Chinese firm close to Inter takeover

Published 03.06.2016 23:21

Chinese investors are on the brink of buying a majority share in Serie A giants Inter Milan, Italian media said on Friday. According to daily newspaper Corriere dello Sport, several Inter officials are currently in Nanjing, China, to thrash out a final deal with electronics retailers Suning, who will acquire around a 70 percent share in the nerazzurri.

The deal, worth 263 million euros ($293 million), could be completed next week, according to Corriere. It was only three years ago that Indonesian businessman Erick Thorir bought a 70 percent stake in the 18-time Italian champions. Thorir will retain a 30 percent share, Corriere said, while Italian petroleum tycoon Massimo Moratti is set to sell his 29.5 percent share in the club.

Moratti was president of Inter on two occasions, from 1995 to 2004 and again from 2006 to 2013. His father Angelo previously held the same role from 1955 to 1968. Inter's great cross-town rivals AC Milan, with whom they share use of the city's San Siro stadium, are also in talks with Chinese investors over a possible sale following 30 years under the control of former Italy prime minister Silvio Berlusconi.

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