The Chinese Suning's acquisition of a majority stake in Italian soccer club Inter Milan hit the headlines in all major sport media in Italy.

Italian newspapers and web media outlets widely commented on the news, which was announced by Suning Group in a joint press conference with Inter Milan executives in Chinese city Nanjing on Monday.

More specifically, the Chinese retail giant Suning will take control of 68.55 percent of Inter Milan, according to a deal worth 270 million euros (307 million U.S. dollars) overall. "Inter becomes Chinese," Ansa news agency highlighted.

Former Inter president Massimo Moratti will sell off his entire stake of just under 30 percent and leave the club, the agency reported.

Indonesian businessman Erick Thohir, who previously owned a 70 percent stake, would remain president of the club and its second largest shareholder with 30 percent of shares, according to Ansa.

Italy's most read sport daily La Gazzetta dello Sport marked the event as "a historic day for Inter," highlighting what Chairman of Suning Holding Group Zhang Jindong told the press conference.

"The acquisition of Inter Milan is part of Suning's strategy in the development of the Chinese sports industry, which is set to be the leading industry in the country in the next five years," Zhang was quoted as saying.

"Soccer in China has gone through an incredible growth, and this is why Suning Holdings Group has decided to invest in this sector, and to reach out to Inter," Zhang added.

"Obviously, the appeal of the Serie A (Italian League) and of the European soccer is stronger compared to that of the Chinese Super League."

Italian media also watched attentively to what Suning and Inter executives said about what future opportunities would be in store for Inter Milan.

Zhang promised the Suning's takeover would allow Inter a broader internationalization, La Gazzetta dello Sport stressed.

"Inter has been the first European soccer team to visit China some 38 years ago, and it is the first soccer team in terms of number of fans in China," Zhang said.

The daily also wrote the dreams of Italian Inter fans would cling much on the promise of the Suning chairman to "make Inter stronger than ever, one of the best of the Serie A and European soccer."

Indeed, several sport commentators agreed the acquisition by the Chinese company would possibly allow Inter to return to its glory days, by pouring fresh capital into the Italian club.

That would be also the opinion of former Inter president Massimo Moratti, Italy's second largest sport daily Il Corriere dello Sport hinted.

"I wish in a revamp, as all Inter fans do, and I think they (Suning) have this in mind," the daily cited Moratti as saying.

"Whether are there going to be big signings this summer? I would be positive, I think there is the will to do it," he added.

Lin Xiaokai, general manager of Changhong Electric Co. Italia, told Xinhua that the Chinese investment in football club will improve the image of China for overseas investment and might promote the performance of Inter Milan club for which so many football fans are expecting.

The share control of a football club by a Chinese business group showed a new model of capital movement through investment from China, said Zhang Gang, representative of China Council for the Promotion of International Trade (CCPIT) in Italy. 

Source:
courtesy of XINHUA NEWS AGENCY

by Xinhua News Agency

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