Monday, March 31, 2008

DIC Liverpool takeover crawling on

DIC reportedly to meet Hicks & Gillett to discuss Liverpool takeover

Sameer Al Ansari Dubai International CapitalDIC, Tom Hicks and George Gillett are reportedly all to meet at the Emirates on Wednesday night to discuss the ownership of Liverpool, and DIC's proposed takeover.

George Gillett has now indicated he won't sell to his partner, and it is anticipated the credit crunch will soon force Tom Hicks hand, as he won't be able to raise the finance to buy out his partner. In addition Gillett clearly favours a sale to DIC, describing them as responsible owners.

Liverpool chief executive Ricky Parry has also come out urging a swift solution, in a further sign the tortourous saga is entering an end phase. He said "My plea is that something happens this week," he said. "There is a need for a degree of urgency but it is urgent to get it right, not urgent to come up with the wrong solution.

"I think George was pretty clear in stating the relationship between the two of them had broken down and, as a result of that, an alternative solution needs to be found.

"There is no question that to succeed you need unity at the top. I think it brings it to a head. All things are possible at the moment. Someone has to sell, that is clear if they are not able to co-exist."

The reports of DIC, Hicks and Gillett meeting at the Emirates on Wednesday to discuss the Liverpool takeover should be taken with a pinch of salt, what is clear however is that the DIC end-game is gradually edging forward and we think a DIC takeover will be complete by the season's end.


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