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AS Roma Shares Rise 9.7% on Talks to Sell Stake to Sheikh

AS Roma (ASR) SpA’s stock rose 9.7 percent after the soccer team said U.S. investors who own a controlling stake reached a preliminary agreement to sell some of their shares to Sheikh Adnan Adel Aref al Qaddumi al Shtewi.

The shares closed at 53.8 euro cents today, their highest since Sept. 26. Sheikh Adnan, 54, is a part of Jordan’s ruling family although he has lived in Italy for 25 years, Gazzetta dello Sport newspaper reported yesterday.

Hedge fund manager James Pallotta and other American investors acquired the three-time Italian champion team in 2011 from the Sensi family. Roma, in a statement last night, didn’t say how much of the U.S. group’s Neep Roma Holding SpA Sheikh Adnan may acquire.

Roma, which last won the Italian league title in 2001, fired coach Zdenek Zeman on Feb. 2 after a five-match winless run left it eighth in the Serie A standings.

To contact the reporters on this story: Alex Duff in Madrid at aduff4@bloomberg.net;

To contact the editor responsible for this story: Christopher Elser at celser@bloomberg.net

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