Birmingham City are set to be sold to another Hong Kong buyer.

The Championship outfit's parent company told the Stock Exchange they are in talks with two parties from Hong Kong and one from the UK - believed to be Gianni Paladini's consortium.

The ex-QPR chairman was understood to be leading the chase but City's acting chairman Peter Pannu last week rubbished claims a deal was close.

But a statement from City's parent company said: "The negotiation with one of the parties in Hong Kong is at an advanced stage."