Russians In For Villa - 19/09/2005

Aston Villa has confirmed that they have received a 'preliminary approach' to buy the club after weekend rumours that a Russian consortium was about to launch a £60m takeover bid. The shares, which have advanced 34 per cent in 2005, climbed as much as 28 per cent to 475p in London trading, valuing the club at £54.2m. The unidentified Russians may offer as much as 580p a share. On September 1st Villa rejected as inadequate a bid by former Manchester City player Ray Ranson who offered 400p a share. Villa has long been regarded as a sleeping giant and the club most likely to give the Midlands a top Premiership club. The Russian group would give David O'Leary about £75m to spend in the January transfer window.