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Birmingham City have published a response to the stories regarding a Paladini-led takeover of the club. The brief statement which was made by Peter Pannu refutes any active discussions between BIHL and Paladini are taking place.
To quote Pannu verbatim:
“There are no active negotiations with the group involving Gianni Paladini or any of his associates.
“Should there be any agreement reached, there shall be formal announcements made in Hong Kong and also in the UK. I would urge that only official information should be relied upon and not rumours or speculation.”
In my personal opinion, as statements go the first paragraph is pretty incredible. I honestly cannot believe that Mr Pannu is denying that he has been in active discussions with Mr Paladini and his consortium, based on the information available to me.
Furthermore, I cannot understand what Pannu has to gain from denying they are taking place; surely in doing so he is in danger of annoying the Italian consortium and risks them binning their offer?
It’s unfortunate as the second paragraph is absolutely solid and rings true – BIH have to make announcements to the Stock Exchange when an offer has been accepted and to call an EGM and until that happens we don’t know for sure how close that is to happening – anything else is speculation and rumour, however well founded the source of information is.
The danger is that statements like this make the takeover more of a circus than it already has been. There is already an inordinate amount of speculation about what is happening and despite warning against it the first paragraph will only exacerbate the problem.