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Stan Kroenke increases his stake to 28.9%


Lenny

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Russia's Usmanov seeks to raise Arsenal stakeMOSCOW - RUSSIAN billionaire Alisher Usmanov said Monday that he intended to raise his holding in Arsenal by acquiring an additional three per cent of the English football club's capital.Usmanov said he and his partners at Red and White Holdings currently held a 26.9 per cent stake in Arsenal but that they wanted to raise that share to 29.9 per cent to ensure they controlled what he termed a 'blocking stake'.Both Usmanov and the US tycoon Stan Korenke - who beside 29.98 per cent of Arsenal also owns the NBA's Denver Nuggets and the NHL's Colorado Avalanche - have been gradually building up their holdings in the north London giant.A mandatory takeover bid of Arsenal would be triggered if either owner controlled more than 30 per cent of the shares.Usmanov fanned the flames of the takeover speculation by saying that he could not rule out one day owning a larger share. But he said that his main goal now focused on a 'blocking stake'.'Today, we have 27 per cent,' the Interfax news agency quoted Usmanov as saying. 'Our objective is to bring that up to a blocking stake of 29.9 per cent.' -- AFP
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