Newcastle part-owners PIF in advanced Inter Milan talks with Suning – meeting held in Nanjing

Saudi Arabia’s Public Investment Fund are in talks with Suning about buying Inter Milan – with negotiations being held in Nanjing, China.

TMW’s Enzo Bucchioni has reported talks between the part-owners of Newcastle United and Suning are already at an advanced stage.

He stated: “The managerial optimism does not change the objective which is to sell and the sale should take place by 2022. Among the solutions there would always be that of a possible sale to the PIF, the sovereign fund of Saudi Arabia’s royals.

“According to rumours, the negotiations underway in Nanjing would be at an advanced point, they could even close and, above all, it would not be an insurmountable obstacle the fact that in the meantime PIF has already invested in Newcastle United in the Premier League.

“The sovereign fund PIF would in any case have already made a proposal for a dry one billion dollars, about 900 million euros, and there would be substantial consensus on this. The Chinese government would still have some hesitation, which, in fact, would not have yet authorized the last act of the sale to PIF.

“It is true that the economic relations between the two countries are excellent, but dealing with football is not always politically correct and in this delicate moment, China prefers to reflect further until when, as mentioned, the operation will not have a clear and downhill road.”

Bucchioni added: “Precisely for these reasons, prudence would be advising Goldman Sachs to keep other tables open and in particular there would be offers from American funds and subjects.

“The proposal analyzed, the most concrete and closest to the required standards would be from the tycoon Daniel Straus who operates in the private health sector. At the same time, Goldman, if the sale were to delay any longer, would be taking steps to get Inter to obtain another loan from another economic entity.”

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