LONDON (Reuters) - Billionaire Alisher Usmanov has increased the amount of shares he owns in Arsenal Football Club by around 1 percent to more than 24 percent, the company representing him said on Friday.

Red and White Holdings, the investment vehicle for the Russian businessman which has David Dein as its chairman, said in a statement it now holds over 24 percent in Arsenal Holdings, having held 23 percent since last September.

Red and White would be required to launch a takeover for the club, the Premier League leaders, under London Stock Exchange rules once it has 30 percent of the shares.

Red and White, jointly owned by Usmanov and Farhad Moshiri, has been gradually increasing its stake but has received a frosty reception from Arsenal's board, who have said they do not need a billionaire backer.

Last October, the board of the club moved to ward off any takeover bids by extending an agreement that prevents board members selling shares to outside investors until April, 2009.

Last August, Red and White Holdings bought a 14.6 percent stake in Arsenal from former vice-chairman David Dein for 75 million pounds.

(Reporting by Chris Wills, Editing by Quentin Bryar)