Pannu cools takeover talk

Birmingham acting chairman Peter Pannu has cooled speculation over a potential takeover of the Midlands club.

Last Updated: 02/10/13 at 17:21 Post Comment

Peter Pannu: Has cooled speculation over a potential takeover

Peter Pannu: Has cooled speculation over a potential takeover

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Rumours have been rife for weeks that City are attracting interest from potential suitors and that only intensified when Hong Kong-based Pannu flew back to England on Tuesday, attending the club's 4-0 victory over Millwall at St Andrew's.

But Pannu insists his return has not coincided with any plans to meet interested parties.

"The recent rumour about a takeover is not correct," Pannu told the club's official website.

"Due diligence was completed by a party some time ago and a timeframe for an offer was set, but we heard no more.

"As the offer did not materialise within that period, there is no imminent deal as is being suggested.

"I don't have an appointment to meet anybody during my time here in the UK and, due to non-disclosure agreements, I don't wish to discuss this any further.

"The key point to make regarding the ownership of the football club is that Carson Yeung (president) does not wish Birmingham International Holdings Limited (BIHL, parent company) to lose its listing status in Hong Kong and a full disposal of the club would hinder those plans.

"Plans for the resumption of trading of BIHL's shares are well underway in Hong Kong and when those plans are successful then the intention is that significant capital will be raised for the football club's general operations.

"Therefore the priority at the moment is the resumption of trading. A full disposal of the club would hinder those plans as the listing status would be lost and that would go against Carson Yeung's wishes or the wishes of the shareholders."

Owner and Hong Kong businessman Yeung, who remains unable to leave the Far East, continues to battle a lengthy court case over alleged money laundering.

Asked whether Yeung has plans to sell Birmingham once the resumption of trading in the Sky Bet Championship club has been completed, Pannu replied: "Carson Yeung is personally in preliminary discussions with some buyers from Asia.

"So yes, I believe it may be his (and the shareholders') ultimate intention, however, as outlined above, he is working to his own strategy on how to achieve this."

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

S

hould have stayed because we carried him for 6.5 years. And then he has a breakthrough season, and was gone soon after. MU fans, you would be as disgusted had C Ronaldo left in 2007 and not 2009.

godof86
Is Van Persie Slipping Sadly Into The Night?

G

ood grief. Someone guessed that the form English player at the moment might be in his national side with some other players? And that's espionage? Now if they discovered that Emile Heskey was going to be in the starting line up.... at right back.... THAT would be espionage. Give it a rest Roy.

RogerRedHat
Hodgson hits out at Kane leak

H

e may get away with if Liverpool can swap the video with one of Skrtel dancing or something, but if they review the one shown on TV he's screwed.

hump3.
Skrtel denies violent conduct

Footer 365

Italy 1-1 England: Andros Townsend equaliser keeps Roy Hodgson's side unbeaten this season

Substitute Andros Townsend rescued England's unbeaten post-World Cup record as his late goal in Turin earned a 1-1 draw.

Jack Wilshere, Mikel Arteta and Mathieu Debuchy step up Arsenal comebacks

Jack Wilshere scored as he stepped up his comeback from injury against a Brentford XI at Arsenal's training ground on Tuesday.

England's Andros Townsend happy to silence critics with equaliser in Italy

Andros Townsend was delighted to repay Roy Hodgson's faith with the equalising goal as England drew in Italy on Tuesday.

Mail Box

Why Do Arsenal Have So Many 'Internet Warriors'?

The Mailbox has an open letter from Liverpool's Raheem Sterling, questions Phil Jones' bulldog spirit and asks: "Why do Arsenal have so many "internet warriors?"

It's All Just A Ruse By The 'Southern Press'...

A varied Tuesday morning Mailbox, with thoughts on the England U21s, a Sterling ruse, Kane realism, Wenger coaching youth and enjoying the charity match...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company