Albanian bid for Bologna hits buffers

Albanian oil businessman Rezart Taci's bid to take over Bologna has broken down shortly before the deal was set to be completed.

"Taci has requested not to proceed with the completion of the deal, which was set for August 4," read a statement by Aktiva Spa, the company through which the family of President Francesca Menarini control the Serie A club.

"Aktiva awaits clarification of the current situation and of any eventual definitive developments."

Last month, the club announced they had reached an agreement to sell a controlling stake to Taci. However, Italian media speculated the Albanian might be trying to knock down the price.

A bid by an American consortium to buy the seven-times Italian champions, who scraped to safety in May on their return to the top-flight after a three-year absence, broke down at the last minute a year ago.

Source: Reuters