SHANGHAI -- Chinese retailer Suning.com, the owner of Italian Serie A leader Inter Milan, will sell 23% of its shares to several state-owned investors including Shenzhen International Holdings, hoping to tap the logistic company's expertise to escape a downturn exacerbated by the coronavirus pandemic.
Retail
Inter Milan owner Suning sells 23% stake to state-owned investors
Embattled retailer reportedly looking to move away from sports
Suning's Chairman Zhang Jindong attends a news conference with Chinese retailer Suning and Italy's Inter Milan in Nanjing, Jiangsu Province in 2016. © Reuters
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