Facebook Twitter 新浪微博 Instagram YouTube Tuesday, Apr. 19, 2016

China’s IT Giant Baidu Reportedly Plans to Buy AC Milan at $790m

By Zou Luxiao (People's Daily Online)    04:11, April 19, 2016

Chinese consortium led by China’s IT giant Baidu may be planning to take over Italian soccer club AC Milan on the verge of a €700 million (790 million USD), according to Italian media La Gazzetta dello Sport.

The consortium has a background mostly in renewable energy and media, and it wishes to seal the deal by June, so as to be in time for the summer transfer season, Bloomberg said.

Lawyers representing club owner and former Italian Prime Minister Silvio Berlusconi are believed to have met with Sal Galatioto, advisor to the Chinese consortium and an expert in sporting mergers and acquisitions, at a Rome hotel on April 18, 2016.

Once sealed, the deal would mark China’s second major purchase in European football club in less than six months, following another group led by China Media Capital Holdings bought a $400 million stake in Manchester City Football Club’s owner.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Bianji,任建民)

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