Bahrain's government announced that a private equity firm based in the country is in "exclusive talks" to buy seven-time European champion AC Milan and become the Italian league's first Middle East investor.
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Three days after news of the dealings emerged, Bahrain's embassy to Britain confirmed in a tweet on Monday that Investcorp is in discussions to buy the Serie A leader for $1.1 billion.
The US-based hedge firm Elliott Management has owned Milan since 2018 after the former Chinese owner failed to repay part of a loan. Former Italian premier Silvio Berlusconi controlled Milan for more than 30 years before selling to the Chinese group in 2017.
Neither Elliott nor Milan has discussed the talks with Investcorp, and club director Paolo Maldini said little when asked about it on Friday.
