Indonesian investors buy Inter Milan stake

<p>Stakes in Inter Milan have been purchased by Indonesian investors.</p>

Indonesian investors have taken over Italian football club Inter Milan after a consortium agreed to purchase a majority stake in the team.

A group of three businessmen led by media tycoon Erick Thohir have bought 70 per cent of the club, which is fourth in the Serie A league table after seven matches.

Although the amount of money involved in the deal was not confirmed by either party, various media reports estimated it to be between 250 million and 300 million euros (£210 million to £250 million).

Massimo Moratti, the president of the club, stated that the team's history will be "enriched" as a result of the new deal. In a statement posted on the Inter Milan official website, he said: "The new partners' enthusiasm and pragmatism are certainly a guarantee for the future."

As well as Mr Thohir, Rosan Roeslani and Handy Soetedjo have contributed to the deal.

Inter Milan is one of the most famous football clubs in the world and it has won the European Cup on three occasions, most recently in 2010 under the leadership of Jose Mourinho.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.