According to Bloomberg, a consortium formed by Alibaba and the Jiangsu government is in talks with the Zhang family for a majority of Suning’s shares.
As reported yesterday by Bloomberg, a consortium formed by Alibaba and the Jiangsu government is in talks with the Zhang family for a majority of Suning’s shares. Should the deal go through, Zhang would lose control of the company which at that point would pass into the hands of Jack Ma, owner of Alibaba.
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As he points out Free, the positive news is that despite the crisis, Suning is able to find a new partner willing to lend money. “Should it go through, Alibaba would take over control of Suning, of which it already owns 20% of the shares since 2015, when the company founded by Jack Ma paid out 4.6 billion to Zhang“.
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“The question is: is Inter already on the negotiating table? Because in this case it will be Jack Ma who will direct the new management, and who knows if keeping Steven Zhang, son of his friend Jindong, at the helm. The point is that Inter Milan costs and to maintain it you need to be imbued with a fierce passion: the revenues of the Nerazzurri club are close to 400 million but the losses of the latest budget exceed 100 million, net of the 870 million of debts, including the last 275 million euros received from Oaktree in the form of funding. Should the deal go through, Inter fans should hope that Jack Ma will soon become one of them. “
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June 30, 2021 (change June 30, 2021 | 12:16)
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