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Football: Milan say majority share not for sale following reports of takeover bid

Published on Apr 8, 2014 2:30 AM
File photo of former remisier king Mr Peter Lim. -- PHOTO: SPH

MILAN (AFP) - AC Milan vice-president Barbara Berlusconi insisted Monday the Serie A giants were not for sale, following reports from Spain that Asian tycoon Peter Lim had tabled a takeover bid.

Berlusconi, the daughter of club owner and president Silvio, said recently that 20-30 per cent of Milan's shares were up for grabs in order to boost the club's plans to build a new stadium.

Spanish newspaper AS on Monday claimed Singaporean Lim, who is reported to be in the midst of trying to buy La Liga side Valencia, had offered to buy a 51 per cent stake in Milan for 300m euros (S$519.5 million).

But following unconfirmed reports Lim had met with club vice-president Adriano Galliani, Berlusconi said, speaking from Abu Dhabi where the club is trying to lure new investors, said the report was "baseless".

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