Fininvest board on Tuesday for exclusive talks over AC Milan sale: source

Reuters News
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Posted: May 10, 2016 6:15 AM

MILAN (Reuters) - The Berlusconi family holding company Fininvest called a board meeting for Tuesday noon to open exclusive talks with a consortium of Chinese investors over the sale of AC Milan soccer club, a source close to the matter said.

The asset is one of the most cherished ones by former Italian prime minister Silvio Berlusconi, who last summer failed to complete a sale of the club to Thai businessman Bee Taechaubol. A person who followed the negotiations said Berlusconi changed his mind at the last minute.

The group of Chinese investors - whose identity is still not known - has valued the club at 700 million euros ($798 million), including debt, another source said last week.

(Reporting by Elvira Pollina, editing by Paola Arosio)