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Last Updated: Thursday, 24 November 2005, 20:33 GMT
West Ham takeover plan scrapped
Media Sports Investments have pulled out of a potential takeover of West Ham United after failing to agree a price with the club's directors.

But the company remains intent on finding "other opportunities in the European football market".

In a statement to the Stock Exchange, the company confirmed it would not be making an offer for the club.

"(MSI) believes it would not be able to reach a consensus on the valuation with the directors," said the statement.

The company is led by Kia Joorabchian, a 34-year-old Iranian-born British passport holder.

The statement added: "MSI is now no longer interested in making an offer for West Ham.

"MSI continues to review other opportunities in the European football market."

The Hammers also consider the matter closed and issued a statement to the Stock Exchange.

It read: "The board of West Ham United notes the announcement made by Media Sports Investments Limited this afternoon stating that Kia Joorabchian and his consortium are no longer interested in making an offer for West Ham United.

"Accordingly, West Ham United is no longer deemed to be in an offer period for the purposes of the City Code on Takeovers and Mergers."


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