Alexa

Thaksin Shinawatra takes steps to launch takeover bid of Manchester City

Thaksin Shinawatra takes steps to launch takeover bid of Manchester City

Former Thai prime minister Thaksin Shinawatra confirmed Tuesday that he has approached Manchester City about a possible takeover bid for the English Premier League soccer club.
Thaksin made an "indicative proposal" to buy Man City, his company said in a statement to the London Stock Exchange.
Thaksin was ousted as Thailand's prime minister in a Sept. 19 coup after being accused of corruption and abuse of power. He now lives in London.
"Thaksin Shinawatra notes certain recent press articles regarding the possibility of an offer being made for Manchester City," the statement said. "Thaksin confirms that he and his advisers have made an indicative proposal that may or may not lead to an offer being made for the Company."
Manchester City was formed in 1894 and has spent the last four years in the Premier League. It was English champion in 1937 and 1968 and won the FA Cup four times, the last in 1969. City also won the European Cup Winners Cup in 1970 _ its only international silverware.
The club moved into a new 47,500-seat stadium in 2003. The team is currently 13th in the 20-team Premier League.
While leader of Thailand, Thaksin led a 2004 attempt to buy a 30 percent stake in Liverpool. The deal was never finalized, and Liverpool was taken over by American businessmen Tom Hicks and George Gillett Jr. in March.
Manchester United and Aston Villa are also owned by Americans. Chelsea, West Ham, Fulham and Portsmouth are also under foreign ownership.


Updated : 2021-01-16 14:16 GMT+08:00