China's Suning to pay 270 million euros for near-70 percent stake in Inter Milan

[cirr]

Business | Mon Jun 6, 2016 4:01am EDT

China's Suning to pay 270 million euros for near-70 percent stake in Inter Milan

NANJING, CHINA | BY ADAM JOURDAN

A security guard keeps watch before a news conference with Chinese retailer Suning and Italy's Inter Milan in Nanjing, Jiangsu Province, China June 6, 2016.

REUTERS/ALY SONG

Chinese retail giant Suning Commerce Group Co Ltd (002024.SZ) has agreed to buy nearly 70 percent of famed Italian soccer club Inter Milan for 270 million euros ($307 million), the highest-profile takeover of a European team so far by a Chinese firm.

Suning confirmed the deal on Monday at a joint news conference with Inter Milan executives, including current majority owner and president Erick Thohir, in the eastern Chinese city of Nanjing.

With President Xi Jinping an avid supporter of soccer, Suning's deal to take control of Inter Milan, which last won the European Champions League in 2010, is the latest step in a plan to create a global sports empire stretching from soccer clubs to online broadcasting.

A person familiar with the matter told Reuters earlier that Suning will buy a 68.55 percent stake in the Italian club. Thohir will cut his stake in the club to 31 percent, while former president Massimo Moratti will sell off his entire stake in the club of just under 30 percent, according to the person, who spoke on condition of anonymity because the matter was confidential.

In a statement, the soccer club said Thohir will stay on as president and become the sole minority shareholder in Inter Milan, while Moratti will exit the club.

($1 = 0.8805 euros)

(Reporting by Adam Jourdan; Writing by Brenda Goh; Editing by Kenneth Maxwell)

http://www.reuters.com/article/us-soccer-inter-milan-suning-idUSKCN0YR03T

 

[Beast]

Even the Indonesian has exhausted his fortune keeping big football club. Only the Chinese has the money to match the sheikh of Arabs in football.

AC Milan missed the chance to go back to elite of European football.

 

[4GTejasBVR]

Soon ac millan will have plastic surgeried look alike of Ronaldo Messi in the team... Nice team... Why the sold to China

 

[Beast]

Soon ac millan will have plastic surgeried look alike of Ronaldo Messi in the team... Nice team... Why the sold to China

Becos Chinese has the money. Most others are too broke.

Why have plastic surgery when we just buy them? Money is not a problem, how much 200million pound? No problem. We can spend USD 1billion to make a new team.

Money talks in football.

 

[Hamartia Antidote]

Note:

This is https://en.m.wikipedia.org/wiki/Inter_Milan

Not https://en.m.wikipedia.org/wiki/A.C._Milan
AC Milan is the big one owned by former PM Silvio Berlusconi

 

[Beast]

Note:

This is https://en.m.wikipedia.org/wiki/Inter_Milan

Not https://en.m.wikipedia.org/wiki/A.C._Milan
AC Milan is the big one owned by former PM Silvio Berlusconi

Silvio Berlusconi is a poor man now. He cannot afford to owned AC Milan. Look how much money he spend on buying new player last year compare to those top 10 spender. You will know.

 

[Hamartia Antidote]

Silvio Berlusconi is a poor man now. He cannot afford to owned AC Milan. Look how much money he spend on buying new player last year compare to those top 10 spender. You will know.

Well somehow he got AC Milan to be worth almost $300M more than Inter. So he must be doing something right.

 

[jhungary]

Inter Milan was the club sold to Indonesian businessman Erick Thohir in 2013..........This is the same stake the Suning is getting from Intermilan

Actually Thohir did a good job on Inter Milan, it went up from a nobody club in 2010 to forth in Serie A

 

[4GTejasBVR]

Inter Milan was the club sold to Indonesian businessman Erick Thohir in 2013..........This is the same stake the Suning is getting from Intermilan

Actually Thohir did a good job on Inter Milan, it went up from a nobody club in 2010 to forth in Serie A

Ohhhhhh OK thank God to know this... Now am so happy that Chinese bought it... Indonesians are worst kind of people to be friends with... Trust me friends I been with lots of multi cultural people's. These are shot fack people who are very jealous insecure about India Pakistan and even Bangladesh because their economy is so shity.... Heck with their economy check their currency exchange. Their country is a deposit shot hole. These people are even more shot holes. India and China can be better off than me thinking India and Indonesia. I guess only country with no indigenous language is Indonesia among others. They don't have own writing scripts. They pronouns some bull shot in English alphabet.... What a shame... I assure you friends I will knock out any Indonesian I see

So good CHINA got inter Milan... Club I came to know after being fan of Ronaldinho

Inter Milan was the club sold to Indonesian businessman Erick Thohir in 2013..........This is the same stake the Suning is getting from Intermilan

Actually Thohir did a good job on Inter Milan, it went up from a nobody club in 2010 to forth in Serie A

Nonsense and insecure country.. China is more superior in this regards

 

[meis]

The fallen gaint... this could be a bad investment.

 

[4GTejasBVR]

Inter Milan was the club sold to Indonesian businessman Erick Thohir in 2013..........This is the same stake the Suning is getting from Intermilan

Actually Thohir did a good job on Inter Milan, it went up from a nobody club in 2010 to forth in Serie A

Let me tell you what you people do. When u are alone u such coook like haii hello my friend.. When you get your own country buddy u be like 'he is an asks hole' and you prefer to be with your country insecures because u all are insecures... Afraid of Indians and Pakistanis... I will bet you ..... #&&##

Not u but us people and country