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Kroenke continues to builds stake in Arsenal
England - 24 April, 2007
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Stan Kroenke pushed his stake in English Arsenal to 12.2 percent Friday, right after the club board revealed none would sell their shares to the U.S. billionaire.
Kroenke increased his total an additional one percent after buying 577 shares, according to a regulatory statement.
Kroenke's takeover led to the departure of vice-chairman David Dein, the man credited with much of the club's success over the past decade. Dein has a 14.5 percent stake in Arsenal, and it appears he and Kroenke are trying to combine forces to gain a 30-percent stake and attempt a takeover.
Shares in Arsenal, worth around GBP 120 pounds in the early 1990s, were at GBP 7,000 pounds for the first time Friday, coming on the heels of Kroenke's interest.
Kroenke increased his total an additional one percent after buying 577 shares, according to a regulatory statement.
Kroenke's takeover led to the departure of vice-chairman David Dein, the man credited with much of the club's success over the past decade. Dein has a 14.5 percent stake in Arsenal, and it appears he and Kroenke are trying to combine forces to gain a 30-percent stake and attempt a takeover.
Shares in Arsenal, worth around GBP 120 pounds in the early 1990s, were at GBP 7,000 pounds for the first time Friday, coming on the heels of Kroenke's interest.
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