Man Utd takeover rumour

Manchester United became the focus of renewed takeover talk yesterday when it emerged that close to 5 per cent of its shares …

Manchester United became the focus of renewed takeover talk yesterday when it emerged that close to 5 per cent of its shares had been picked up by an unnamed buyer.

Market speculation descended upon the deal as soon as it became public, with all of the club's main shareholders seen as potential buyers.

Attention was most keenly focused on US sports magnate Mr Malcolm Glazer, who before yesterday owned almost 10 per cent of the company.

Mr Glazer, who has repeatedly been cited as the party most likely to initiate a takeover bid for Manchester United, did not comment on the matter.

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Another large holder was more forthcoming, however, with a representative of Mr John de Mol, the creator of the Big Brother reality TV series, revealing that he had neither bought nor sold any shares.

Mr de Mol owns 4.1 per cent of Manchester United.

Mr JP McManus and Mr John Magnier, who together hold 23.15 per cent of the club, did not comment but their involvement on either side of yesterday's transaction is seen as unlikely.

The two businessmen have repeatedly insisted that they have no takeover ambitions but are involved purely as an investment.

The stake is thought to have been sold by fund management firm Lansdowne Partners.

It changed hands for slightly more than £30 million (€43 million), with Commerzbank managing the placing.

Early comment identified Commerzbank's London head, Mr Mehmet Dalman, as the broker.

Shares in Manchester United finished at £2.63 last night, up almost 6.5 per cent on the buyout speculation.

At this price the stake held by Mr McManus and Mr Magnier would be worth close to £160 million, while Manchester United would have a market capitalisation of £683 million. - (Additional reporting Reuters)

Úna McCaffrey

Úna McCaffrey

Úna McCaffrey is an Assistant Business Editor at The Irish Times