(Reuters) U.S. hedge fund Elliott has launched contractual proceedings that could give the investment company the powers to decide the future of indebted Italian soccer club AC Milan, a source familiar with the matter said on Monday. Elliott gave a financial lifeline to Chinese businessman Li Yonghong last year to complete the acquisition of the Serie A club from former Italian prime minister Silvio Berlusconi.
Elliott Launches Action to Take Control of AC Milan
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