Xiaomi, Alibaba and TCL join Suning

L’FC International has new owners. Or rather: the ownership remains the same, but its composition has changed. From today, in fact, some big names in Chinese technology join the group Suning and in fact become shareholders of a conglomerate of activities, including the team that has just won the Scudetto in the Italian top league.

Alibaba, Haier, Midea, TCL, Xiaomi

The operation sees its fulcrum in the new fund “New Retail Innovation Fund Phase II“, Worth 8.83 billion yuan (over 1 billion euros): it includes companies of the caliber of Alibaba, Haier, Midea, TCL e Xiaomi. The fund will acquire 16.96% of the Suning group, with the Zhang family which will see its stake drop to 17.62%. This does not in any way preclude the permanence of Steven Zhang as president of Inter, but changes ownership scenarios and possibly future strategies.

This operation is of fundamental importance for Suning (an oriental giant that in Europe is known more than anything else for its investment in the world of football), as it injects liquidity to a group that has been deeply affected by the pandemic to the point of questioning many of the its activities collateral to the core business. At the same time he is important for Inter because he sees Jack Ma set foot on the property after his name had been associated with that of the Milanese team for many months.

Domestic appliances, televisions, smartphone and e-commerce: this is the composition of the products at the center of the mission of the companies that have invested in Suning. In short, Chinese technology works to save the giant that had set foot in the West through one of the channels of greatest media attention in all of Europe. It will now be interesting to understand what will change from the point of view of investments and whether the “Silk Road” will be able to work at least on the streets of football.

Categories:   Digital Economy

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