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Tycoon raises his stake in United
LONDON, England (Reuters) -- Manchester United Plc said on Wednesday that Malcolm Glazer, owner of American Super Bowl Football champions the Tampa Bay Buccaneers, had raised his stake in the English premier league club to 5.92 percent. Speculation has been rife that a wealthy investor like Roman Abramovich, who recently bought London's Chelsea football club, might bid for the English soccer champions, attracted by its cash pile and strong cash generation. But the club said on Monday it had not received any approaches, as it posted a 22 percent rise in annual profits. Glazer had previously owned a 3.2 percent stake. His 5.92 percent shareholding makes him Manchester United's fifth biggest investor. Irish racehorse magnates John Paul McManus and John Magnier are the biggest shareholders with an 11.4 percent stake, ahead of broadcaster BSkyB Plc's 9.9 percent and mining magnate Harry Dobson's 6.6 percent. Manchester United shares closed up 1/2 penny at 196-1/2 pence, valuing the club at 509 million pounds ($846 million).
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