Inter’s owners Suning have invested €620 million into purchasing a majority share of French retail giant Carrefour.
Carrefour will hold onto a 20% stake after the deal is complete but the agreement they have reached leaves open the chance they will sell their remaining share in the future.
Suning’s investment follows the purchase of 37 Wanda Group shops as they continue their quest to become one of the most important consumer businesses in the world.
Suning’s vice-president Tian Rui said: “In future there could be an integration with Suning’s various business models, from our electronic domestic products to Suning Financial Services, from SuFresh to Suning Xiaodian’s Immediate Delivery.
“With 400 million clients for our retail business, Suning’s ecosystem of users will be integrated with Carrefour China’s membership system, vastly improving the value of each client.”
Suning took over Inter in 2016 by purchasing a 68.55% stake from owner Erick Thohir and are about to begin their fourth season.
Antonio Conte has been appointed on a three-year deal as head coach in an attempt to challenge Juventus’ dominance of Serie A.
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