ENIC have made a compulsory offer for the remaining shares in Tottenham - but taking 100% control of the club appears unlikely.
After buying Sir Alan Sugar's shares for £25million, ENIC made a mandatory cash offer for the remainder of the club under city rules but it is understood that they are happy with the club being on the Stock Exchange.
ENIC are willing to buy from any shareholders who want to sell but reaching the threshold where they could de-list the company is remote. There have been no indications that a significant number of shareholders would take up the offer either.
Spurs have been the subject of takeover speculation over the last few months and Sugar decided to cash in on the resulting increase in share value.
ENIC's decision to buy Sugar's shares has been viewed as a sign of their long-term commitment to the club.
The company are understood to be happy with matters on and off the pitch, with Spurs investing more than £30million so far this summer to break into the Champions League.
Chairman Daniel Levy is hoping to move the club's training and academy facilities and is also looking at either increasing the capacity of White Hart Lane or relocating.