Date: 15th November 2012 at 2:34pm
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Birmingham have dismissed speculation that Solihull-based businessman Gianni Paladini and his consortium will be taking over the club within the next ten days.

Paladini came forward with an improved bid for the club after his original offer was turned down, but so far no deal has been reached between the two parties.

The Italian says that they are currently going over the club’s books and was hoping of concluding the takeover by the end of next week so that the club was in new hands ready for the opening of the Transfer window at the end of the year.

But acting Birmingham chairman Peter Pannu said: ‘There are no active negotiations with the group involving Gianni Paladini or any of his associates.

‘Should there be any agreement reached, there shall be formal announcements made in Hong Kong and also in the UK. I would urge that only official information should be relied upon and not rumours or speculation.’