Jack Ma close to buying Milan: the story behind the no comment from Alibaba & Fininvest

27 April at 17:17
A decisive few days for the future of Milan as a historic turning point gets ever closer. Silvio Berlusconi looks set to sell his majority holding to a Chinese company of which little is known due to the signing of a pact of confidentiality. After the advances of Robin Li, founder of the search engine Baidu and Li Kha Shing, owner of the Whampoa Group, comes Jack Ma; the richest man in Asia and founder of the e-commerce group Alibaba and this time it’s more than just rumours.


The offer is believed to be for a 70% controlling stake immediately with the other 30% to be acquired within the next 12 months for a total cost of €500 million (half of what was originally offered by Mr Bee). Calciomercato.com has asked both parties for details but unfortunately the only statement coming out at the moment is “No Comment”. The managing director of Mediaset, Pier Silvio Berlusconi at the shareholders meeting also refused to comment on the current situation stating that; “I know nothing, I cannot give you any information”. Important developments are expected in the next few days.

Steve Mitchell @barafundler


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