QPR co-chairman Tony Fernandes has loosened his grip on Rangers shares to allow partner Ruben Gnanalingam a bigger slice of the burden - or bargain - depending on how you see it.

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The club announced QPR Asia Sdn Bhd’s share, a Fernandes controlled company, has changed from 69 per cent to 55 per cent, while Total Soccer Growth Sdn Bhd, which represents Gnanalingam, has taken a 33 per cent shareholding.

However, the company owned by billionaire Lakshmi Mittal, has offloaded a massive 19 per cent of its Rangers shares to just 11 per cent.

Mittal, was persuaded in 2007 by racing supremo Bernie Ecclestone and former owner Flavio Briatore to take an initial 20 per cent interest in Hoops. Part of the deal saw Mittal's son-in-law, Amit Bhatia, take a place on the board.

However, Mittal plummeted from sixth richest man on the planet to 82nd in 2015 no thanks to a crisis in the steel industry, and is rarely seen at Loftus Road for matches.

There remains a less than 1% minority interest shareholding.

The share changes are subject to ratification from Companies House.

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