A consortium of Gulf-based investors led by David Shamoon is thought to have been building a stake of 8%-10% in Minerva.
The Iranian property entrepreneur is said to be working with a group of Gulf-based investors who are thought to be providing a sizeable amount of capital for the shareholding.
Speculation suggests his consortium is interested in linking with Nathan Kirsh, who owns about 29% of Minerva, in a joint bid. Friends of Shamoon tried to play down the takeover story and said he just thought it was a good investment. The shares climbed 0.25p to 12.75p.
14/05/09 Daily Telegraph B7
