United stock falls sharply

MANCHESTER United’s stock fell sharply yesterday after a newspaper report suggested US sports tycoon Malcolm Glazer was poised to abandon his bid for the world famous soccer club.

Manchester United Plc, the world's most profitable soccer club, declined 4.75 pence, or 1.7%, to 276.25 pence.

Malcolm Glazer, owner of the National Football League's Tampa Bay Buccaneers American team, plans to drop his hostile bid to buy Manchester United if he can sell his 28.1% stake in the club.