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Last Updated: Tuesday, 19 June 2007, 11:40 GMT 12:40 UK
Thaksin's Man City deal on track
Thaksin Shinawatra
Thaksin's Manchester City takeover bid has been dogged by uncertainty
Thaksin Shinawatra's bid to buy Manchester City is still on, even though he has been ordered back to Bangkok to face corruption charges.

The former Thailand prime minister and his wife have been charged with concealing assets and have been told to return by 29 June or face arrest.

But BBC Five Live reports that his bid for an Eastlands takeover is on track.

Sevilla's Juande Ramos and ex-England boss Sven-Goran Eriksson are still in the frame for the City managerial role.

The club have already demanded an explanation from Thaksin following reports his bank accounts have been frozen.

He left Thailand last year after being ousted from office in a military coup and lives in London.

Now he is facing further uncertainty because of the latest developments.

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The director-general of Thailand's Department of Special Investigations, Sunai Manomaiudom, said police had strong evidence that Thaksin and his wife secretly held stock through nominee companies in SC Assets Corp. PLC, a Shinawatra family holding company.

Serving Thai cabinet ministers are not generally allowed by law to hold shares in publicly listed companies. They are also required to reveal their assets, including stockholdings.

The police are charging Thaksin with violations on both counts when he was prime minister.

But a spokesman for Shiniwatra's financial advisors shrugged off the latest setback, telling the Manchester Evening News: "Everything the unelected, military junta in Thailand has been doing of late is politically motivated.

"It is a serious attempt to stop him buying Manchester City and it will fail."

Shinawatra submitted a bid to buy City in May and was then granted access to the club's accounts.

His advisers have been carrying out due diligence before reporting their findings to him.



SEE ALSO
Thailand freezes Thaksin's assets
11 Jun 07 |  Asia-Pacific
Seville to hold Ramos deal talks
05 Jun 07 |  Man City
Man City move closer to takeover
04 Jun 07 |  Man City


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