AC Milan to sell to Chinese group

As reported, “a group of Chinese investors has agreed to take an initial stake of 70 %  of Italian Serie A soccer club AC Milan, with ongoing discussions about the sale of the remaining 30 %.”

“It is also reported that former Italian prime minister Silvio Berlusconi will remain president for the next two or three years until the additional 30 percent is acquired by the Chinese. “

According to Italian media, the possible candidate to take the place of Berlusconi may be one of the following: Robin Lee (the president of Baidu), Xu Jiayin (a Chinese real estate developer, Chairman of Evergrande Group), He Xiangjian (the co-founder of Midea, one of China's largest appliance makers) and possibly Eric Xu (Rotating & Acting Chief Executive Officer of Huawei Investment & Holding Co. Ltd).

"If everything goes as planned, a final agreement will be reached by June 15th-20th, subject to any changes."

Source: China Daily

Proofread by Sean O Diobhilin