Shares of Manchester United briefly pop 16% after Qatar media hints at takeover bid ‘success'

Shares of Manchester United roseate arsenic overmuch arsenic 16% successful premarket trading connected Tuesday aft Qatari media suggested Sheikh Jassim bin Hamad al-Thani was apt to win with his takeover bid.

Qatar's Al-Watan paper reported Tuesday evening that Sheikh Jassim, a lad of the country's erstwhile premier minister, is poised to beryllium announced arsenic the preferred bidder of the Premier League shot club. Al-Watan is co-owned by Hamad bin Jassim bin Jaber al-Thani.

A spokesperson for Manchester United was not instantly disposable to comment.

Shares of Manchester United, which exclusively commercialized connected the New York Stock Exchange, were astir 4% higher astatine 3:15 a.m. ET, paring earlier gains.

The reports travel aft seven months of negotiations, with British petrochemicals billionaire Jim Ratcliffe besides successful talks to bargain the club.

Sharing the quality via Twitter, the societal media relationship of the Al-Watan paper said, "The occurrence of Sheikh Jassim bin Hamad bin Jassim's acquisition" would beryllium announced soon.

Fahad al-Emadi, exertion of Al Watan newspaper, shared a akin message.

"All the quality received indicates the occurrence of Sheikh Jassim bin Hamad bin Jassim's acquisition of Manchester United, and the announcement of the woody volition beryllium precise soon," helium said.

The Glazer family, Manchester United's American owners, announced the ceremonial merchantability process precocious past year, saying successful a Nov. 22 connection that the company's committee of directors would commencement exploring "strategic alternatives" for the club.

Sheikh Jassim connected June 7 was reported to person submitted an improved 5th and last connection of astir $6.3 cardinal for full power of Manchester United. Ratcliffe, meanwhile, was said to person wanted to acquisition astir 60% of the club.