Vicente Soriano taking control of Valencia football club

Vicente Soriano taking control of Valencia football club
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By h.b. - Jul 25, 2008 - 8:16 AM

Vicente Soriano (right) and Juan Soler - Archive Photo EFE

The surprising move sidelines the ex Chairman of Telefónica, Juan Villalonga

Vicente Soriano has taken control of Valencia football club after Juan Soler, the largest shareholder, gave him control. It comes in response to the bid from the ex Chairman of Telefónica, Juan Villalonga, who wanted to take over the club.

Soriano said that he was sorry for ever putting Soler in contact with Villalonga, and today will become the new President at the Mestalla after singing an option to buy 70,000 shares from Juan Soler. The shares are worth 71.7 million according to Soler.

Meanwhile Villalonga, who is insisting in his bid to take over the club, says it is in intensive care with debts of 789 million €.

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