NEWS
Tuesday May 23 2017
China releases Milan funds?

It’s reported the Chinese government could relax rules on foreign investment, allowing investors to join the Milan project.

Yonghong Li had led a consortium called Sino-Europe Sports to take over the Rossoneri, but the Beijing government imposed limitations on taking capital out of the country.

SES was therefore dissolved, with a new company, Rossoneri Sport Investment, formed to complete the takeover with the help of US hedge fund Elliott Management.

However, Libero is reporting today that the Chinese government is preparing to ease restrictions on investing abroad, allowing Li to return to his original plan.

It’s thought he will try bring several Chinese investors on board, including Lu Bo of the venture capital fund Haixa and Huarong, one of the country’s largest companies.

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