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Gianni Paladini is close to completing a protracted takeover for Birmingham.

Former QPR chairman Paladini has been interested in buying Championship Brum with an Italian consortium since 2012.

But negotiations broke down over complications with Blues' Far Eastern parent company, Birmingham International Holdings Ltd.

They have recently been revived though with City owner Carson Yeung anxious to sell as he faces money-laundering charges back home in Hong Kong.

MirrorSport understands talks have now been positive and a takeover is now set to be concluded before November.

Previous talks between Yeung and a Far Eastern consortium headed by ex-St Andrews director Sammy Yu collapsed earlier this year.

But Yeung and colleague Peter Pannu have admitted they need to sell the club.

Yeung paid £80million for City and is trying to recoup as much as possible but a massive hit is likely.