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Chinese retail giant Suning to hold 68.55% stake in Serie A club


06-06-2016 16:10 BJT

To football now and Chinese retail giant Suning is looking to be latest company from the world's most populous nation to buy a stake in a major european football company.

The retailer set to tie up a deal for Italian soccer club Inter Milan, but the firm is eyeing bigger ambitions: controlling a global sports empire stretching from soccer clubs to online broadcasting.

Suning and Inter Milan are making an announcement in the eastern Chinese city of Nanjing, widely expected to confirm that Suning will buy a majority stake in the club.

Amid a wider push by China to increase its standing in the game, Suning's deal for the 2010 European champions is just the start.

The Chinese electronics retailer is seeking deals to help create a global sporting ecosystem. This network would include club ownership, sports media rights, player agencies, training institutions, broadcast platforms, content production and sports-related e-commerce.

Suning will allegedly own 68-percent of the Serie A club, and its current owner -- Massimo Moratti. Suning, is buying his stake in the team. Suning Sports aims, through strategic expansion and acquisitions, to establish a this new initiative. A majority stake in Inter Milan would be a big step towards this.

It would be a watershed moment for China's investment, making Suning the first Chinese mainland business to control a major European footballing brand.

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