Inter Owners Suning Worried Over Potential Financial Fallout From Evergrande Collapse, Italian Media Report

Inter Owners Suning Worried Over Potential Financial Fallout From Evergrande Collapse, Italian Media Report
September 25, 2021 14:00
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Inter owners Suning are anxious about the potential consequences from the financial problems at Evergrande, a company in which they hold a significant stake.

This according to today’s print edition of Milan-based newspaper Gazzetta dello Sport, who report that the Nerazzurri owners could be seriously affected by the risk of default by Evergrande who have missed a deadline for paying €84 billion in bond interest.

Suning’s recent financial difficulties are well-known and go hand in hand with those experienced by Inter, with the Nerazzurri owners having already been forced to give up control of to a public-private consortium.

The issues for the Chinese company could get worse, as the the €2.6 billion worth of shares which they bought in Evergrande Real Estate have reduced in value by about 80%, while Evergrande have missed a significant interest payment and are at serious risk of defaulting.

The consequences that this will have for Inter remain unclear, but with the debt and liquidity problems piling up for Suning and the Evergrande situation only compounding matters, the company are thought to be seriously worried.

By Toni Weeler

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