World Bulletin / News Desk
A Middle Eastern consortium is poised to bid 1.5 billion pounds ($2.3 billion) for full ownership of Britain's Arsenal Football Club in the biggest-ever takeover of a soccer team, The Telegraph newspaper reported.
The bid is likely to be mounted in the next few weeks, seeking to buy out the current majority owner, U.S. sports investor Stan Kroenke, the British newspaper said.
The Middle Eastern investors do not want to reveal their identities yet but will be backed by funds from Qatar and the United Arab Emirates, the newspaper reported late on Saturday without naming its sources.
The consortium would make available transfer funds "to transform the club into a major force in European and world football", the newspaper quoted an unnamed source familiar with the plan as saying.
"The bid team regard Arsenal as one of the great clubs of European football but also one that is no longer punching its weight and is in danger of falling behind," it said.
The newspaper added that the consortium would pledge to reduce ticket prices at Arsenal's Emirates Stadium in London, and would aim to recreate there some of the atmosphere of Highbury, Arsenal's historic former stadium.
The takeover would raise questions over the future of Arsenal's manager, Arsene Wenger, although the consortium values his football knowledge and want him to remain at the club, The Telegraph said.
An acquisition would add to a string of investments in European soccer teams by Middle Eastern interests over the last several years.
Manchester City, the current English Premier League champions, were bought by a member of the Abu Dhabi royal family in 2008, while Kuwait's al-Hasawi family bought twice European Cup winners Nottingham Forest in July last year. France's Paris St Germain and Spain's Malaga are owned by Qatari investors.
The Slovak pipeline operator Eustream estimated it would ship 22.4 million cubic metres through the pipeline while the Slovak economy minister said the link was ready to run at full capacity.
China has also said it would like to continue to develop "friendly cooperation" with Ukraine and that it respects the ex-Soviet state's independence, sovereignty and territorial integrity.
Selling a fleet of subs would mark the first time since at least the end of World War Two that Japan had sold a complete weapons platform overseas.
The head of Iran's atomic agency says the agreement will be signed next month
A little more than a month ahead of general elections, new figures shows the Brazilian economy contracted by 0.6 percent in the second quarter of 2014
Russia cut off the gas flow in mid-June after the two sides failed to agree on pricing and debts owed for previous gas supplies.
Malaysia Airlines will be de-listed from the Kuala Lumpur exchange by the end of 2014
Venezuela's Petroleum minister, Rafael Ramirez, said earlier this year that PDVSA could import crude as a "last resort" to find diluents for its heavy crudes
Air France, the French network of Air France-KLM said on Wednesday it has suspended its flights to Sierra Leone following advice from the French government
Ukrainian Prime Minister Arseny Yatseniuk said that Kiev knew of plans by Russia to halt gas flows this winter to Europe
The inquiry into tycoon Bernard Tapie has embroiled several of former president Nicolas Sarkozy's cabinet members including Lagarde.
The riot broke out in the southern industrial hub of Johor state on Tuesday at a factory run by JCY International , a Malaysian firm that makes parts for electronic giants including Samsung, Hitachi and Western Digital.
Hawaii and U.S. territories have strong dependency on petroleum imports, because of their physical isolation and lack of fossil fuel resources, while their residential electricity prices have been three to five times the average residential prices of the mainland U.S.
Buyers of Kurdish crude could face lawsuits from Baghdad if the oil moves close to U.S. soil and would also require the seller to provide costly indemnities against potential lawsuits
Deep job losses, route cuts and a change of leadership are expected to feature in a restructuring plan being prepared by Malaysia's government
New company will create the third largest global fast-food chain with annual sales of US$23 billion.