Football: Chinese firm close to Inter takeover

Inter Milan's midfielder Stevan Jovetic celebrates with teammates after scoring in the Serie A football match against Udinese in Milan, on April 23, 2016.
Inter Milan's midfielder Stevan Jovetic celebrates with teammates after scoring in the Serie A football match against Udinese in Milan, on April 23, 2016.PHOTO: AFP

(AFP) - Chinese investors are on the brink of buying a majority share in Serie A giants Inter Milan, Italian media said on Friday.

According to daily newspaper Corriere dello Sport, several Inter officials are currently in Nanjing, China, to thrash out a final deal with electronics retailers Suning, who will acquire around a 70 per cent share in the Nerazzurri.

The deal, worth €263 million euros (S$404 million), could be completed next week, according to Corriere.

It was only three years ago that Indonesian businessman Erick Thorir bought a 70 per cent stake in the 18-time Italian champions.

Thorir will retain a 30 per cent share, Corriere said, while Italian petroleum tycoon Massimo Moratti is set to sell his 29.5 per cent share in the club.

Moratti was president of Inter on two occasions, from 1995 to 2004 and again from 2006 to 2013. His father Angelo previously held the same role from 1955 to 1968.

Inter's great cross-town rivals AC Milan, with whom they share use of the city's San Siro stadium, are also in talks with Chinese investors over a possible sale following 30 years under the control of former Italy prime minister Silvio Berlusconi.