KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
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RIVAL bidders for Manchester United have been invited to submit a third offer by the end of April, according to reports.
Qatari banker Sheikh Jassim Bin Hamad Bin Jassim Bin Jaber Al Thani and British billionaire Jim Ratcliffe both submitted a second bid for the Premier League club last month.
Several offers are understood to have been received in recent weeks but Sheikh Jassim and Ratcliffe remain the front runners to buy United should the Glazers give up control of the club they bought in 2005 for £790 million (S$1.3 billion).
United’s unpopular owners announced in November they were conducting a strategic review, with the sale of the club one option being considered.
The Qatari group has reportedly made an offer of about £5 billion for 100 per cent ownership of the club while Ratcliffe, a boyhood United fan, wants to buy the combined Glazer shareholding of 69 per cent.
The Americans’ asking price is believed to be around US$6 billion – a figure that would make the 20-time English champions the most expensive sports club in history.
Finnish entrepreneur Thomas Zilliacus last month entered the race and US hedge fund Elliott Investment Management is understood to have made a bid for a minority stake.
The Glazers have angered many United supporters by saddling the club with huge debts over the past 18 years.
They appeared ready to cash out at an enormous profit when they invited external investment in November but they could yet shun the option of selling a controlling stake.
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