A security guard keeps watch before a news conference with Chinese retailer Suning and Italy's Inter Milan in Nanjing, Jiangsu Province, China June 6, 2016. REUTERS/Aly Song
NANJING, China (Reuters) - Chinese electronics retailer Suning Commerce Group Co Ltd is buying nearly 70 percent of Italian football club Inter Milan for 270 million euros (213 million pounds), in the highest-profile takeover so far of a European team by a Chinese firm.
Suning, part owned by e-commerce firm Alibaba, confirmed the deal on Monday at a joint news conference in the eastern Chinese city of Nanjing with Inter Milan executives, including current majority owner and president Erick Thohir.
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