Former Thai prime minister mulling Man City takeover

LONDON, May 1 (Reuters) Former Thai prime minister Thaksin Shinawatra is the front runner to take over Manchester City after being given access to the English Premier League club's accounts, British media reported today.

Thaksin was linked with a bid of almost 200.2 million dollars for City over the weekend and contact was finally made on Monday, according to the reports.

Accountants acting for the exiled billionaire telecoms baron will complete due diligence before advising their client whether to make a formal bid.

Former City player Ray Ranson has also been trying to buy the Eastlands club and last week submitted a revised proposal regarding a proposed offer. Media reports put Ranson's bid in the region of 90 million pounds.

Ranson, who is backed by a British-based financial partner, last Tuesday lodged a new proposal to address concerns about conditionality and said in a statement that he hoped to enter formal discussions with the board.

However, Reuters understands that Thaksin's interest is favoured by City after the club was contacted by the Thais with regard to opening up the books.

Thaksin's lawyer today denied to comment on the media reports that his client was in talks with City.

The club has been seeking investors, with chairman John Wardle keen to attract significant funds for a team that has long lived in the shadow of neighbours Manchester United.

Thaksin, who has not returned to Thailand since a bloodless military putsch on Sept. 19 last year, failed in his efforts to buy Liverpool for 65 million pounds three years ago.

The former Thai prime minister, who coup leaders accuse of corruption and cronyism during his five years in office, lives in London but has also been travelling in Asia playing golf.

REUTERS BJR KP1602