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Tuesday, April 8, 2008

George Soros to Takeover AS Roma?

Image courtesy of Wikipedia.

The plot thickens in Rome.

A few weeks ago, an American billionaire, John J. Fisher, was rumored to want a brand perhaps more famous than Banana Republic or The Gap: Associazione Sportiva Roma 1905.

Now, according to a story in The Telegraph, investment guru, George Soros, may be adding another holding to his extensive portfolio at Soros Fund Management.
"However, it is reported that Rothschild Bank, who are representing Soros, will meet with the Sensi family's legal team straight after Roma's Champions League quarter-final second leg against Manchester United at Old Trafford tomorrow night.

If talks are productive, Soros is expected to launch an immediate takeover bid.

Soros said: '(Francesco, Roman captain and legend) Totti is simply a phenomenon. I like him very much.' "

Mr. Soros was born in Budapest, Hungary, and obviously sees a good value in one of the oldest clubs in the Serie A. The Sensi Family, who are major shareholders in AS Roma via their holding company, Italpetroli, presently have 300 million Euros in debt. Roma is traded on the Milan Stock Exchange.

According to Forbes, Mr. Soros' net worth is estimated at $8.5 billion.

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