The investment firm co-owned by Russian billionaire Alisher Usmanov has confirmed it does not intend to launch a takeover bid for Arsenal within the next six months.
Red and White Holdings said Usmanov would commit to this position for that period.
Earlier this month Usmanov increased his stake in Arsenal football club to 24%, but announced it would not breach the 30% limit which would trigger a formal bid.
In a statement to financial markets his holding firm said: “Red and White is pleased to confirm its previous statement that it has no current intention to make an offer for Arsenal Holdings Plc (‘Arsenal’) and is committing to this position for a further six months.
“Red and White has the necessary funding to increase its stake further.
“However, it confirms that it will not acquire a shareholding in Arsenal which would trigger an obligation to make an offer for the shares in Arsenal.
“As the largest shareholder in Arsenal, Red and White is delighted with the excellent results of the club on the field and would encourage all parties to focus on a trophy winning conclusion to the domestic and European campaigns.”
Earlier this month Arsenal’s managing director Keith Edelman said he was confident that an agreement between major shareholders would block any attempted takeover by Mr Usmanov.
“We were always advised by them that they would build their stake to 25% but we have a lockdown, which makes us bullet-proof,” he said.