Italian Journalist Carlo Festa: “I Don’t Think Suning Will Sell Inter But Never Say Never”

Italian Journalist Carlo Festa: “I Don’t Think Suning Will Sell Inter But Never Say Never”
December 31, 2020 22:00
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It cannot be ruled out that Suning could opt to sell Inter, at least according to football finance expert Carlo Festa, a journalist for Italian business and finance news outlet Il Sole 24 Ore.

Inter like all clubs have been severely impacted by the COVID-19 pandemic and the Nerazzurri club registered a loss of €102.4 million in the last financial year.

Multiple rumours have done the rounds in the past few days regarding Suning’s alleged plans on how to tackle the financial problems with many rumours discussing the €375 million bond that Inter have that is due to expire in 2022.

“At least for the moment, it would seem that Suning wants to refinance the bond (about 375 million which expires in 2022) with a few specialised investors, a sort of private placement,” Festa explained in his blog on the online edition of Il Sole 24 Ore.

“If I had to give my opinion and according to what I have learned in recent days, Suning may not stop there and look for a new minority shareholder.”

With regard to the possibility of Suning, who took charge of Inter back in the Summer of 2016, giving up control of Inter, Festa went on to state that whilst he does not think it will happen, you can never say never.

“At the moment I don’t think so, but never say never. COVID-19, the tightening of Beijing, the increasingly difficult football situation and many factors could affect the future decisions of the Chinese giant who now has to manage its subsidiary in Europe with different strategic objectives compared to 2016.”

 

By Cammy Anderson

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