|
The president of the Sino-Europe Sports (SES) group negotiating a takeover of AC Milan has said there is no concern about the deal not going through. SES had been due to become Milan's new owners by Dec. 13, but the date of completion has now been put back twice, with March 3 now the deadline. The group has obtained an extension by paying a second deposit of €100 million, and president Yonghong Li said there was no reason to worry about the deal. "In China, every investment in a foreign country is subject to approval by the Chinese regulatory authorities," he told ANSA. "Recently, this authority has announced new measures for controlling investments abroad. "This also applies to operations which were already announced before this was made public, and that includes SES acquiring AC Milan." Li denied reports that he was looking for partners to invest in the takeover and dismissed claims that funds were still lacking. "To be honest, SES have already collected an amount of capital which is superior to the total value of the investment," he said. "We do have an alternative structure for investment which would resolve any issues caused by these new measures, but we are confident that these authorisations will arrive in time to allow us to complete the deal within the time agreed. "I am personally totally dedicated to building the future of Milan."
|
