China's Suning takes majority stake in Inter Milan
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E-mail CNTV, June 7, 2016
The Chinese appliance retailer Suning Holdings Group has bought a majority share of the Italian Serie A football club Inter Milan.
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The Chinese appliance retailer Suning Holdings Group has bought a majority share of the Italian Serie A football club Inter Milan.? |
With the purchase of 69 % of Inter's shares, Suning is now the majority owner of the most popular Italian team in China. Indonesian businessman and current president of Inter Milan, Erick Thohir, will retain a 31% share of the club, and continue in his current role. The new owners say they want a partnership to bring Inter back to the pinnacle of European football. Suning will provide a welcome financial injection to help manage Inter's debt and help bring in the necessary players.
The club is competing in the UEFA Europa League next season and hopes to get back to the more lucrative Champions League.
