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Tue, June 12, 2007 : Last updated 20:32 pm (Thai local time)



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Home > Headlines > Thaksin may seek extension of Manchester City bid after seizure





Thaksin may seek extension of Manchester City bid after seizure

Ousted prime minister Thaksin Shinawatra may seek more time to complete his bid for Manchester City after graft busters ordered freezing of his and his family's wealth, Thaksin's spokesman Noppodon Pattama said Tuesday.

The orders to impound Thaksin's assetswon't affect his intentions to buy the Premier League club, Noppadon told a press conference.

Thaksin, who has been living in exile since the military overthrew him in a September coup, may ask for the bid deadline to be extended.

"We still hope it won't affect the bid. Thaksin still wants to buy Manchester City," he said.

Most of Thaksin's and his family's assets were frozen by investigators, raising doubts about his ability to fund the takeover.

Thaksin was banned from politics for five years by a Constitutional Tribunal on May 30 for electoral fraud. The tribunal also disbanded his Thai Rak Thai party.

Manchester City said in a statement earlier on Monday it was talking to Thaksin's advisers "to confirm the implications of these developments in respect of their client's interest in potentially making an offer for the company.''

In the statement, City confirmed that they were uncertain as to the implications of Monday's development.

"The board notes the information emanating out of Thailand today in respect of Dr Shinawatra and the freezing of his assets," read a statement issued by the club.

"The board and its advisers are in discussion with Dr Shinawatra's advisers to confirm the implications of these developments in respect of their client's interest in potentially making an offer for the company.

"These discussions and those between the company and other interested parties may or may not lead to an offer being made for the company."








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