Louis-Dreyfus ends Marseille takeover talks

Olympique Marseille's main shareholder Robert Louis-Dreyfus has ended all takeover negotiations with Canadian businessman Jack Kachkar.

"Mr Louis-Dreyfus has put an end to all negotiations with Jack Kachkar," a spokesman for Louis-Dreyfus said yesterday.

Kachkar had offered 115 million euros ($153 million) to buy one of France's most prestigious football clubs but he failed to provide sufficient guarantees to make the deal effective.

Louis-Dreyfus broke off talks with Kachkar last week after the Canadian asked for a further delay to pay the 115 million euro price that had been set for him to take over the former Euro champions.

Kachkar, owner of pharmaceutical company Inyx, said he had delivered financial guarantees to Louis-Dreyfus.

A spokesman for Kachkar said on March 1 a final agreement had been reached with Louis-Dreyfus, who later said the deal would be finalised only once he received the money.

The French Professional Football League (LFP) had informed Marseille that it viewed Kachkar's bid unfavourably.