The long-running takeover saga surrounding Milan could reportedly end in failure if a new €100m doesn’t arrive this week.
It was reported today that the latest deposit of €100m from Sino-Europe Sports is held-up in the British Virgin Islands, after it was supposed to arrive last week.
Now SportMediaset is reporting that it’s unlikely the money will arrive tomorrow either, meaning the deal could collapse altogether.
The long-running takeover saga surrounding Milan could reportedly end in failure if a new €100m doesn’t arrive this week.
It was reported today that the latest deposit of €100m from Sino-Europe Sports is held-up in the British Virgin Islands, after it was supposed to arrive last week.
Now SportMediaset is reporting that it’s unlikely the money will arrive tomorrow either, meaning the deal could collapse altogether.
While there has been no official deadline given, Mediaset – which, like the Rossoneri, is controlled by Silvio Berlusconi’s holding company Fininvest – believes it’s likely the takeover will fall through if the money doesn’t arrive this week.
Those reports have been echoed by ANSA and Goal.
Mediaset also quotes words of warning from the Chinese state agency for foreign trade.
“Mergers and acquisitions abroad can sometimes resemble a rose with thorns, so you have to be careful and make the requisite checks,” Pan Gongsheng explained.
“It would be a good thing if these mergers and acquisitions gave impetus to the value of football in China. But in this case?
“Many Chinese companies already have high debt levels and borrow large sums of money for cross-border purchases.
“Others claim to invest, but are simply transferring their activities.”