Former Thai prime minister Thaksin Shinawatra is closing in on completing a takeover of Manchester City, where he hopes to install Sven-Goran Eriksson as manager.

Thaksin's company UK Sports Investments Ltd has purchased a further 5,343, 622 shares (9.88 per cent) in the club.

The shares are believed to be from broadcasting giants Sky as they are the only major shareholder remaining after Thaksin received a 55.9 per cent stake following pledges from board members and former chairman Francis Lee.

He now has a 65.78 per cent interest in City and is edging closer to the 75 per cent mark where he can de-list the company and take them into private ownership.