Irish businessman Ossie Kilkenny, former accountant to rock group U2, has built a two
percent stake in Manchester United and industry observers are now linking Kilkenny's share-holding with the 8.65 percent stake held by Cubic Expression, the investment vehicle of Irish tycoons JP McManus and John Magnier.
Although Kilkenny has no known links to McManus and Magnier he is a former associate of Dermot Desmond, the major shareholder in Celtic FC.
Desmond is a leading figure in the "Coolmore Mafia" a group of wealthy Irishmen who share interests in horseracing and business.
The Sunday Telegraph newspaper indicated that the club is aware of Kilkenny's investment and that Peter Kenyon, the chief executive, is expected to contact him shortly to ask his intentions.
Manchester United was marked up 1.5 pence at 140 pence, having touched 143 pence earlier in the morning, but at 11am (GMT), United shares were trading down 4.5 pence on the day's opening price.
