Reports suggest the latest €100m for the sale of Milan is held-up in the British Virgin Islands.
The islands are a tax haven, with many financial companies and offshore interests located there.
According to Il Solo 24 Ore, the latest €100m from Sino-Europe Sports has left China, and is currently in the British Virgin Isles.
The second deposit also passed through the Caribbean territory, and was financed by Huarong bank, one of four banks established by the Chinese state.
Reports suggest the latest €100m for the sale of Milan is held-up in the British Virgin Islands.
The islands are a tax haven, with many financial companies and offshore interests located there.
According to Il Solo 24 Ore, the latest €100m from Sino-Europe Sports has left China, and is currently in the British Virgin Isles.
The second deposit also passed through the Caribbean territory, and was financed by Huarong bank, one of four banks established by the Chinese state.
However, rumours from Chinese government sources indicate that Huarong isn’t dealing with the latest transaction.
Instead a smaller bank, Bank of East Asia, is thought to be responsible for transferring the funds.
The deal has been thrown into doubt by a series of delays, and Il Solo 24 Ore believes these will be decisive hours for the potential sale.