United shares ease as fans build up support

SHARES in Manchester United eased back more than 3% yesterday as the markets awaited fresh news on the takeover of the club.

After a flurry of trading last week following confirmation that a bid was on the card, the shares hit a four-year high. But they eased back yesterday to 271p.

There had been speculation that Irish investors John Magnier and JP McManus were on the verge of selling their 29% stake, to Malcolm Glazer who is preparing a bid. However, no direct contact between Mr Glazer and the pair and no firm offer is believed to have been put to them.