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24/07/2003
FSA launches inquiry after Chelsea takeover
The Financial Services Authority (FSA) has revealed today that it is probing shareholdings of Chelsea Village following the football club's takeover by Russian billionaire Roman Abramovich.
In a statement issued today the FSA said that its inquiry follows the receipt of information from "a number of sources" suggesting that the publicly disclosed shareholdings of certain parties "may have been inaccurate".
"The FSA is concerned that as a consequence the market may have been misled as to the true ownership of Chelsea Village plc. The FSA attaches great importance to the timely and accurate disclosure of information to ensure that markets operate in an efficient, orderly and clean manner," a statement read.
"These enquiries are separate from and in addition to the ongoing enquiries into various dealings in the shares of Chelsea Village plc ahead of the announcement of the recommended mandatory cash offer on behalf of Chelsea Limited."
The FSA added that it did not expect its enquiries to affect the offer timetable.
Chelsea FC was bought by the Russian tycoon for £140 million on July 1. The club has now spent £24 million on players.
(GMcG)
In a statement issued today the FSA said that its inquiry follows the receipt of information from "a number of sources" suggesting that the publicly disclosed shareholdings of certain parties "may have been inaccurate".
"The FSA is concerned that as a consequence the market may have been misled as to the true ownership of Chelsea Village plc. The FSA attaches great importance to the timely and accurate disclosure of information to ensure that markets operate in an efficient, orderly and clean manner," a statement read.
"These enquiries are separate from and in addition to the ongoing enquiries into various dealings in the shares of Chelsea Village plc ahead of the announcement of the recommended mandatory cash offer on behalf of Chelsea Limited."
The FSA added that it did not expect its enquiries to affect the offer timetable.
Chelsea FC was bought by the Russian tycoon for £140 million on July 1. The club has now spent £24 million on players.
(GMcG)
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Chelsea Boss Mourinho In Shock Exit
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