Billionaire investor Joseph Lewis, whose portfolio of investments includes Tottenham Hotspur football club, has bought a 7% stake in Bear Stearns, making him the largest single investor in the bank.

Lewis, a UK citizen based in the Bahamas, bought 8.1 million shares for $860.4m (€623.6m) in a series of block share purchases in August and September made through a group of funds including Aquarian Investors, Cambria, Darcin, Mandarin and Nivon.