At least two Chinese groups "are weighing bids for Infront Media, the Swiss sports marketing group run by the nephew of embattled" FIFA President Sepp Blatter, in the "latest sign of China’s growing appetite" for European companies, according to Massoudi, Chassany & Blitz of the FINANCIAL TIMES. Wanda, the Shanghai-based property and entertainment conglomerate, and another Chinese company "are considering bids for the marketing company," as is U.S. private equity group Providence. Infront "is expected to fetch a valuation" of more than €900M ($1.1B). Bids "have to be submitted before the end of the week." People close to the auction said that "buyers have raised questions over the impact of investigations" into FIFA’s selection of Russia and Qatar as the next two locations for the World Cup. They are concerned that if FIFA’s leadership changes, Infront "may lose some of its World Cup-related rights." Chinese investors "ramped up their investments in the region in the aftermath of the eurozone debt crisis." Many "see an opportunity to buy Western consumer brands they can then expand in their domestic market." Figures compiled by Deutsche Bank revealed that the total stock of Chinese direct investments in the EU "has quadrupled" to nearly €27B between '10 and '12 (
FT, 11/24).
