Thaksin buys up more City shares

Former Thai prime minister Thaksin Shinawatra is closing in on completing a takeover of Manchester City, where he hopes to install Sven-Goran Eriksson as manager.

Thaksin’s company UK Sports Investments Ltd has purchased a further 5,343, 622 shares (9.88%) in the club.

The shares are believed to be from broadcasting giants Sky as they are the only major shareholder remaining after Thaksin received a 55.9% stake following pledges from board members and former chairman Francis Lee.

He now has a 65.78% interest in City and is edging closer to the 75% mark where he can de-list the company and take them into private ownership.