with a purchase of one million shares. His total
shareholding now stands at 16.69%. The Telegraph still
believe that Coolmore will sell their shares to Glazer once
a settlement has been reached on the Rock of Gibraltar.
Glazer’s purchase represents 0.39% of United’s total stock,
and as United are in an “offer period” any shareholder with
more than 1% stake in United has to announce any trading in
the club. As no such announcement has been made, the
Telegraph deduce that Glazer purchased his shares from a
small shareholder.
Apparently the few remaining institutional shareholders,
such as Legal and General, are reusing to sell their shares.
"This latest acquisition by Malcolm Glazer may be seen as a
small investment by his standards but it is another
unwelcome one as far as we're concerned," said Jules
Spencer, the chairman of the Independent Manchester United
Supporters' Association.
"We would continue to urge ordinary supporters to invest in
the club and ensure it doesn't end up being swamped by
someone who has no motive other than to maximise profits and
turn Manchester United into a glorified cash cow. Our
message now is the same as it has always been. Manchester
United is not for sale."
Meanwhile the Grauniad reports that peace talks over the
Rock of Gibraltar may yet make it to the courts. The talks
hinge on Fergie being willing to ‘drastically reduce his
demands’.