Zhang Jindong Could Sell Suning Control To Jack Ma’s Alibaba Or Chinese Government, Italian Media Claim

Zhang Jindong Could Sell Suning Control To Jack Ma’s Alibaba Or Chinese Government, Italian Media Claim
February 25, 2021 17:30
( )

Inter’s owners Suning could cede control of their company to Jack Ma’s Alibaba group or the Chinese government, according to a report in the Italian media.

The Nerazzurri’s majority shareholders are looking to raise funds to guarantee the group’s long-term economic stability.

A report from the Financial Times today claimed Suning were considering selling up to $1.5 billion in shares at one of their subsidiary companies, as they look to battle a serious lack of liquidity.

Corriere della Sera have now said Jack Ma could take control of Suning as part of their emergency changes, especially considering he already has a 20% share in the company with Taobao.

The Milan-based paper also mentioned rumours circling today about the Chinese government, with reports suggesting they could get involved and buy into Suning too.

One thing which seems to be certain is that Suning need an urgent injection of capital to keep their finances going, which is why they are looking to sell their assets.

Alibaba already took control of Inter from Suning back in December when the Zhang family were looking to raise money at the time.

Jack Ma’s group do not have the same liquidity problems and would therefore be a suitable candidate to take over the Chinese retail giant.

Gazzetta dello Sport have also reported this evening that Suning’s trading has been suspended on the Shenzhen stock exchange, as people await further developments on the company’s immediate future.

It is unclear whether these developments affect Inter, but a Chinese journalist has suggested the rumours are a clear message that Suning might be forced to sell the Nerazzurri as well.

By Will Beckman

Suning Could Sell LionRock’s Inter Shares To Fortress, Bain Capital Or King Street, Italian Media Report

April 23, 2021 19:00
( )

Suning have identified three main contenders to become Inter’s new minority shareholder, a report in the Italian media confirmed today. Calciomercato.com said the Nerazzurri’s owners…

Inter To Escape UEFA Sanctions For Involvement In Super League Project, Italian Broadcaster Reports

April 23, 2021 18:30
( )

Inter will not face punishment from UEFA over their involvement in the failed European Super League project, according to a leading Italian broadcaster today. Sky…

Inter Continue Shirt Sponsor Hunt With Samsung In Contention To Replace Pirelli, Italian Media Report

April 23, 2021 18:00
( )

Inter’s likely Serie A title triumph will give them a boost in their hunt for a new main shirt sponsor, according to a report in…

Inter To Release Aleksandar Kolarov Despite Importance In Nerazzurri Dressing Room, Italian Media Report

April 23, 2021 17:30
( )

Inter are all but certain to part company with Aleksandar Kolarov at the end of the season, according to a report in the Italian media…

Chelsea Striker Olivier Giroud Available For Inter On Free Transfer In Summer, Italian Media Report

April 23, 2021 17:00
( )

Inter will get another opportunity to finally sign Chelsea striker Olivier Giroud in the summer, according to a report in the Italian media. Calciomercato.com said…

Inter ‘In Advanced Talks’ With Oaktree Capital Group Over €150M Deal, US Media Report

April 23, 2021 16:30
( )

Inter are in advanced talks with Oaktree Capital Group over a €150 million deal to ease the club’s financial problems, according to a report in…

Close

Subscribe

to our newsletter