Ugandan link sees Leeds shares rise
LONDON, Feb 9 (Reuters) - Shares in debt-laden Leeds United bounced 14 per cent on Monday after a newspaper reported the Premiership's bottom club was in talks with a Ugandan property tycoon.
Leeds were not immediately available for comment.
The stock was up 14.3 per cent at three pence by 0830 GMT in heavy volume of 3.4 million shares. On Friday the club's shares slumped 25 per cent after shareholders were warned they could lose out completely in any rescue deal.
Uganda's Sunday Vision newspaper reported that Michael Ezra had proposed a £60million bid for the Yorkshire club, the Sunday Telegraph said.
Ezra contacted Leeds last week and the club were trying to confirm he had the money for a bid, the Telegraph said. Ezra has made a fortune in property and has sponsored Uganda's athletics and Olympic boxing teams, the paper said.
Leeds are more than £80million in debt after overspending on players. The club have a deadline of Friday to convince creditors they can stay afloat until the end of the season.
Leeds suffered their sixth successive league defeat on Saturday when they lost 2-0 at Aston Villa.