China based Suning buys Inter Milan controlling stake for $306m

China based Suning buys Inter Milan controlling stake for $306m

Customers look at products in the hall of a Suning Appliance shop in Beijing December 8, 2011. REUTERS/Stringer/File Photo

A unit of retail group Suning Holdings Group Co. will acquire about 70 percent of Italian soccer club Inter Milan for 270 million euros ($306 million), a rare purchase in which a Chinese company will control a major European sports team.

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