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Arsenal’s Usmanov Pays $1.5 Million for Shares, Nears 30% Stake

Russian billionaire Alisher Usmanov, Arsenal’s second-largest stockholder, spent 952,000 pounds ($1.5 million) to buy 68 more shares in the North London-based soccer team and edge closer to a 30 percent holding.

The purchase from an individual stockholder yesterday, at 14,000 pounds a share, comes after the close of an offer Usmanov made to Arsenal shareholders at the same price in May. The purchase was announced on website of the Plus exchange, where Arsenal is listed.