US entrepreneur ups stake in Arsenal

LONDON - American businessman Stan Kroenke has increased his stake in Arsenal and is now within 17 shares of the threshold that forces him to make a takeover bid.

LONDON - American businessman Stan Kroenke has increased his stake in Arsenal and is now within 17 shares of the threshold that forces him to make a takeover bid.

Kroenke, who owns 29,9percent of Arsenal, acquired 25 more shares last week at a cost of about R2,6million, the Premier League club said yesterday.

If the Denver-based businessman reaches 30percent, he has to make an offer for the remaining shares in Arsenal Holdings.

Kroenke, who first bought a 9,99percent stake in Arsenal in April 2007, also owns the Colorado Rapids of the Major League Soccer, the NBA's Denver Nuggets and the NHL's Colorado Avalanche. - Sapa-AP

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