The US hedge fund Elliott Management has agreed to provide part of the financing for Chinese investor Yonghong Li’s deal to buy Italian football team AC Milan, The Wall Street Journal reports.
The development revives hopes of closing the deal signed in August to buy the team, which is owned by former Italian premier Silvio Berlusconi, valuing it at €740 million ($804 million). That transaction nearly fell through due to tighter capital controls recently introduced by Beijing.
