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Thaksin taking over at Manchester City
England - 10 July, 2007
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Despite the complications and legal threats, former Thai Prime Minister Thaksin Shinawatra claimed a victory of sorts by saying he has completed the takeover of English Manchester City.
Thaksin's bid was dogged by the current Thai government, which froze his assets in Thailand, and then threatened him with a trial for stashing unclaimed money.
Keith Harris, executive chairman of Seymour Pierce Investment Bank, said the money had been "legitimately and transparently transferred to the U.K."
Thaksin, fronted by UK Sports Investments, put in a GBP 81.6 million bid last month. Now, according to his spokesman, he controls 74.03 percent of the club, less than a percent away from being able to de-list the club from the stock market.
Heading in with Thaksin is Sven-Goran Eriksson, who took over as manager Friday.
Thaksin's bid was dogged by the current Thai government, which froze his assets in Thailand, and then threatened him with a trial for stashing unclaimed money.
Keith Harris, executive chairman of Seymour Pierce Investment Bank, said the money had been "legitimately and transparently transferred to the U.K."
Thaksin, fronted by UK Sports Investments, put in a GBP 81.6 million bid last month. Now, according to his spokesman, he controls 74.03 percent of the club, less than a percent away from being able to de-list the club from the stock market.
Heading in with Thaksin is Sven-Goran Eriksson, who took over as manager Friday.
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