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George Soros buys 1.9% of Manchester United

George Soros buys 1.9% of Manchester United
NEW YORK, 21 August 2012 (EuropaPress)
    The American  billionaire George Soros, Hungarian-born has acquired a package of 3.11 million shares of English soccer team Manchester United, whose shares began trading on Wall Street Pasdar August 10, representing a share equivalent to ownership of 1.9% of the Old Trafford club.
    Specifically, the charismatic financial speculator, turned-philanthropist in recent years, came to the IPO of the 'Red Devils' through its fund Soros Fund Management, which acquired a total of 3,114,000 shares of class A, with less voting rights, representing 7.85% of the titles put into service, but less than 2% of the ownership of Manchester United.
    Considering the price of $ 14 per share set for trading debut of the company established in the 'Theatre of Dreams', Soros's participation would have involved an investment of $ 43.6 million (35 million euros), which, behind the falls recorded since its IPO, accumulate losses of 6.7%.
    Soros's entry as a shareholder of Manchester United is not the first adventure of the financial world football, after which in 2008 raised the purchase of Italian club AS Roma, eventually dismissed by the octogenarian investor.
    Manchester United is since 2005 owned by the Glazer family, owners of American entrepreneurs football team Tampa Bay Buccaneers of the NFL in the U.S..
    In the prospectus registered by the 'Red Devils' U.S. with the CNMV, the English club said it "plans to use the funds raised through its offer to reduce debt", which at March 31 totaled 423.3 million pounds (498 million euros).