AC Milan bidder said to lose backing of state-owned Chinese firm

AC Milan bidder said to lose backing of state-owned Chinese firm

AC Milan's coach Sinisa Mihajlovic celebrates with his player Ignazio Abate after winning a match against Inter Milan. REUTERS/Alessandro Garofalo

The little-known Chinese group attempting to buy Silvio Berlusconi’s AC Milan soccer team has lost the backing of its state-owned partner, leaving businessman Li Yonghong to find a way to complete the deal on his own, people familiar with the matter said.

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