Shares of Manchester United pop 10% after Qatar media hints at takeover bid ‘success'

Manchester United shares jumped connected Tuesday, having surged arsenic overmuch arsenic 30% successful premarket trading, 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.

CNBC was incapable to verify the reports and a spokesperson for Manchester United declined to remark erstwhile contacted.

Shares of Manchester United, which commercialized connected the New York Stock Exchange, were astir 10% higher astatine 11:30 a.m. ET.

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.

Zaid Al-Hamdan, president of Doha-headquartered governmental consultancy Aramsite Group, congratulated Sheikh Jassim soon thereafter, contempt the lack of an authoritative announcement.

"Congratulations to Shaikh Jassim Bin Hamad Bin Jassim connected his acquisition of @ManUtd," Al-Hamdan said connected Twitter.

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.