Enic shares jump on Spurs takeover approach

Shares in Enic, the sports and media group run by Tottenham Hotspur chairman Daniel Levy, rocketed 38% today after the firm received a takeover approach.

The group, which owns stakes in Tottenham Hotspur and Glasgow Rangers, confirmed that it had received an approach after reports of a management buyout.

The company issued a statement to the London Stock Exchange saying that it had received a move “which may or may not lead to an offer for the share capital of the company”.

However it is not thought that any management buy-out of Enic would lead to a takeover of Tottenham Hotspur.

Mr Levy, who is managing director of Enic, holds an 11% stake in the company but is part of a consortium of investors which owns around 50%.

As well as a 30% stake in Tottenham Hotspur and a 20% share in Rangers, Enic also owns 99.9% of Vicenza Calcio, 97% of Slavia Prague, 43% of AEK Athens and 12% of FC Basel.

Its other interests include a two thirds stake in the Warner Bros Studio Stores chain of high street shops and a number of media interests including the ukbetting.com online bookmaker.