He has not yet sold his 9 percent stake in the team.

"We have been trying to sell our stake for some time," he said.

On 24 May 2007, the council sold their remaining stake in the company for over £107 million.

To cut costs, it decided to try to sell potential customers a stake.

But by late last month, he had sold his stake of slightly more than 10 million shares.

Subsequently the university sold their stake back in April 2009.

They might then, in turn, sell a stake to other entertainment investors.

The Russian government has said it hopes to sell stakes of some $2.4bn in 2010.

And in those cases when the hedge fund had sold its stake, the average holding period was close to one year.

The Government would sell its remaining stake in the long-distance company.