Chinese investors to meet Berlusconi next week

Silvio Berlusconi’s holding company and advisers to the Chinese investors seeking to buy Italian soccer club AC Milan said after meeting on Friday they would meet again next week, amid reports that the closing of the deal could be postponed.

The investors, backed by Haixia Capital and entrepreneur Yonghong Li, signed an accord in August to gain full control of the Serie A team, through investment vehicle Sino-Europe Sports Investment Management Changxing (SES).

On Saturday Berlusconi said approvals from the Chinese government for the final 420 million euro (352.2 million pounds) payment could delay the closing, initially expected for Dec. 13, and that he was prepared to postpone it by up to six weeks.

Sources told Reuters Berlusconi’s Fininvest could ask SES to make a further downpayment if it would take more time to wrap the deal up.

“In today’s meeting, the financial aspects and the timings (were discussed) in view of the finalisation of the operation,” said a joint Fininvest and SES note.

“Fininvest and SES have scheduled a meeting next week for all the analysis of all necessary details,” added the note.

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