Sale of AC Milan stake will not close this year - sources

MILAN (Reuters) - The sale of a 48 percent stake in AC Milan football club to Thai businessman Bee Taechaubol is facing delays and will not close this year, two sources close to the matter said on Wednesday.

Sale of AC Milan stake will not close this year - sources

(Reuters)





The Serie A football club is owned by Fininvest, the family holding of former Italian prime minister Silvio Berlusconi.

Berlusconi and Bee signed a pre-sale agreement in August and a final deal was supposed to be inked by the end of September.

The sources did not elaborate on the reasons for the holdup, but said Berlusconi and Bee had spoken over the phone on Monday to discuss the state of the matter.

"It's pretty obvious that there will be no closure by the end of the year," one of the sources said, adding that talks will pick up in January, when Bee is also expected to come to Italy.





(Reporting by Elvira Pollina, writing by Agnieszka Flak, editing by Francesca Landini)


Share

1 min read

Published

Updated

Source: Reuters



Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world