Chillin' out till it needs to be funded
In a series of events not necessarily only from the team at NYTIMES, deal makers and news writers followed China’s recent sale of CIC stakes in Morgan Stanley to a certain Mr Kenneth Huang’s pronouncements on oriental sovereign support for his bid for StanC’s favorite hobby horse, the Liverpool Football Club! Well, CIC has thence denied and that is making front pages everywhere and Liverpool is awaiting the resolution of its 350 million pounds in debt ( getting costlier by the tick in USD too)
China Fund Lines Up Cash for Liverpool
August 5, 2010, 5:45 am
The China Investment Corporation, the sovereign wealth fund represented by Kenny Huang, has lined up the cash needed to purchase Liverpool Football Club in Britain, The Guardian reports.
Liverpool currently has £351.4 million ($558 million) worth of debt and it is exactly this sum that the C.I.C. has raised in the last two weeks through a sale of shares in Morgan Stanley.
It is also the figure that has been quoted to those interested in buying the soccer club, The Guardian said, citing insiders at the club.