China Buying 15% Stake Of Inter Milan

[beijingwalker]

China Buying 15% Stake Of Inter Milan
1:41pm UK, Thursday 02 August 2012

A Chinese state railway construction company is buying a stake in Italian football, ahead of plans to build a new stadium.

A Chinese construction firm is set to buy a 15% stake in Italy's premier league football club Inter Milan.

China Railway Construction's investment is worth 55m euro (£43.4m), according to Reuters news agency.

The group has plans to build a new stadium for the Milan-based football team by 2017 and is trying to find a suitable site.

The multi-million pound deal will make the investors the club's second biggest shareholder, behind the Moratti family who will retain control.

In a statement on Inter Milan's website the club confirmed an agreement had been reached as part of a drive to raise its profile in Asia.

It said: "F.C. Internazionale welcomes the new shareholders and is proud to give start to this new phase of the corporate life of the club, aimed at expanding its presence in the Asian markets to raise new resources for the enhancement of its international future development and winning perspectives."

As part of the deal three new directors will join the club's board from next October.

Internazionale confirmed Kamchi Li, Kenneth Huang and Fabrizio Rindi will represent new investors on the board.

The news follows that of Manchester United's plans to float on the New York Stock Exchange.

The Glazer family is to sell just over 10% of the British club in an initial public offering and intends to monetise it further by tapping into a huge fan base in Asia and the rest of the world through mobile devices and social media.

 

[IZVINITE]

Congrats & Best of Luck

 

[Fanling Monk]

Ridiculous IMO, why invest outside your field of specialty and so far away? Corruption and ego soothing is at play here.

 

[SinoChallenger]

Ridiculous IMO, why invest outside your field of specialty and so far away? Corruption and ego soothing is at play here.

Reeks of corruption and foreigner worship, I agree. Football is totally not China's world. We suck at it and we don't have the land to build football fields to make it mainstream accessible.

The same people who make these kinds of investment decisions are the same people who stash away money overseas to flee. Beijing must take notice of this matter and order an investigation into the management who are behind this decision.

 

[ahfatzia]

China Railway Construction Corp. (CRCC) on Friday denied media reports that it had reached an agreement with Inter Milan to buy the Italian football club's 15-percent stake.

"The company, its holding companies and its joint-stock companies have never engaged in negotiations with Inter Milan on stake purchases," CRCC said in a statement filed to the Shanghai Stock Exchange.

However, the statement said the China Railway 15th Bureau Group, controlled by CRCC, was in talks with Inter Milan to build a new stadium at the San Donato Site.

Recently, media reported that CRCC would buy a minority stake in Inter Milan to become the club's second-biggest shareholder, citing a circular on the club's website.

China Railway denies report of buying stake in Inter Milan - Xinhua | English.news.cn

 

[SinoChallenger]

China Railway Construction Corp. (CRCC) on Friday denied media reports that it had reached an agreement with Inter Milan to buy the Italian football club's 15-percent stake.

"The company, its holding companies and its joint-stock companies have never engaged in negotiations with Inter Milan on stake purchases," CRCC said in a statement filed to the Shanghai Stock Exchange.

However, the statement said the China Railway 15th Bureau Group, controlled by CRCC, was in talks with Inter Milan to build a new stadium at the San Donato Site.

Recently, media reported that CRCC would buy a minority stake in Inter Milan to become the club's second-biggest shareholder, citing a circular on the club's website.

China Railway denies report of buying stake in Inter Milan - Xinhua | English.news.cn

Good, Beijing said "no way."