Saudi Arabia wants to buy 30% from Suning

Reports are growing that Suning prefer Saudi investors PIF instead of BC Partners, especially after the Saudis dropped Newcastle United in favour of Inter.

The negotiations with BC Partners are happening for several weeks, but seem to possess stalled because the fund is refusing to satisfy the €1 billion selling price , considering the club to be worth just €880m.

Suning have bought themselves longer and are not any longer in such a desperate situation, having sold 25 per cent of their trading business.

According to La Repubblica, The Sun newspaper and other sources in England, the Saudi Arabia Public Investment Fund (PIF) have dropped their interest in purchasing Premier League club Newcastle United.

Owner Mike Ashley had accepted a bid last year, before it had been withdrawn thanks to financial uncertainty amid the pandemic.

The Magpies are still trying to renegotiate the deal, but it seems as if PIF have pulled out and turned their focus to Inter instead.

La Repubblica note that the PIF approach would be preferred to BC Partners because it might be an investment for 30 per cent of the club.

This allows Suning to stay control of Inter, with an agreement in situ should the Saudis want to extend their share at a later date.

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