Wanda eye­ing stake in ACMi­lan soc­cer team

China Daily (Canada) - - FRONT PAGE -

“The ar­rival in Italy of the Wanda Group and Wang Jian­lin (chair­man of Wanda Group) has cre­ated a news­ce­nario, be­cause it ties in very well with the new sta­dium project,” wrote Ital­ian sports jour­nal­istMarco Bel­li­nazzo.

The Chi­nese of­fer rep­re­sents Ber­lus­coni’s dream of sell­ing a mi­nor­ity stake with­out los­ing con­trol, let­ting the new­share­hold­ers take charge of the con­struc­tion of the sta­dium, added Bel­li­nazzo.

Last month, Wanda con­cluded the ac­qui­si­tion of a 20 per­cent ac­qui­si­tion of Span­ish team Atletico de Madrid, and now the com­pany plans to open 200 cor­ner shops in its Chi­nese Wanda malls to sell the team’s of­fi­cial mer­chan­dise. Wanda’s owner, Wang Jian­lin, also wants to par­tic­i­pate in the devel­op­ment of a big­ger sta­dium for theMadrid-based team.

This month, the Chi­nese com­pany suc­cess­fully com­pleted the pur­chase of in­flu­en­tial Swiss sports mar­ket­ing gi­ant In­front for $1.2 bil­lion. Wang said that the ac­qui­si­tion would help pave the way for Wanda to be­come a global force in the sports in­dus­try. In­front also owns the broad­cast rights of Ital­ian soc­cer.

“The ac­qui­si­tion of In­front will sig­nif­i­cantly in­crease the fu­ture im­pact of the Wanda Group in the cul­ture and en­ter­tain­ment in­dus­try and will also drive the devel­op­ment of the Chi­nese sports in­dus­try and its in­ter­est around the globe,” Wang said ear­lier this month.

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