Pursuits
Baidu Denies CCTV Report Chairman Li to Buy AC Milan Team
- CCTV reported Baidu founder Li agreed $473 million deal
- AC Milan owner Silvio Berlusconi says deal with Chinese close
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Chinese Internet company Baidu Inc. denied reports that the firm, or its billionaire Chairman Li Yanhong, are involved in a deal to buy iconic Italian soccer team AC Milan. China state broadcaster CCTV said that Li was part of a group close to acquiring the team for $437 million.
Milan, the seven-time European champion, is close to being sold to a Chinese group, according to former Italian Prime Minister Silvio Berlusconi, whose family investment vehicle controls the team.