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Manchester United (Image: Man Utd/Twitter)
A report hinted that Qatar’s Sheikh Jassim bin Hamad al-Thani, son of a former prime minister of Qatar, was likely to succeed with his takeover bid for the English football club
Manchester United’s shares jumped nearly 20% in premarket trading on Tuesday after a report hinted that Qatar’s Sheikh Jassim bin Hamad al-Thani was likely to succeed with his takeover bid for the English football club.
Qatar’s Al-Watan newspaper reported on Tuesday evening that Sheikh Jassim, son of a former prime minister of the country, was poised to be announced as the preferred bidder of the Premier League football club, CNBC said.
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Reuters could not immediately verify the Qatari media report, nor did Manchester United respond to a Reuters request for comment.
UK’s Daily Mail said last week that Sheikh Jassim had made a ”fifth and final” offer of more than 5 billion pounds ($6.28 billion) after British billionaire Jim Ratcliffe’s INEOS reportedly outbid him in April.
New York-listed shares of Manchester United have slumped nearly 14% this year.
The latest ”deadline” to finalize Sheikh Jassim’s offer ended on Friday, but no official announcements were made.
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The current owners, the American Glazer family, are reportedly seeking 6 billion pounds ($7.5 billion), which would be a world record for any sports club or franchise, but neither bid is that high.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – Reuters)
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