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Kroenke increases stake in Arsenal

American businessman Stan Kroenke has slightly increased his stake in Arsenal with the purchase of 80 more of the tightly-traded shares in the club.

The move takes Kroenke to 28.7 percent, edging him closer to the 29.9 percent mark that would trigger a formal takeover offer for the remainder of the club.

After more than doubling his stake over the last year, the owner of the Denver Nuggets basketball team bought his latest 80 shares at 8,500 pounds each.

Wed 30 September, 2009
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