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Access takes Setanta stake

February 10, 2009

With some analysts doubting Setanta's future after it failed to renew both its Premiere League packages, Access Industries, which is headed by the Russian-born US citizen Len Blavatnik, is understood to have acquired a stake of about 3%.

Blavatnik’s petrochemicals business, Lyondell Basell filed for bankruptcy protection last month owing $26bn. Royal Bank of Scotland was forced to write off a £2.5bn loan to the company made by ABN Amro, the Dutch bank which was taken over by RBS.

Blavatnik’s company also has a shareholding in Top Up TV, the pay-television company founded by the former BSkyB executive David Chance.

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