Italy's Berlusconi agrees sale of AC Milan stake to Thai businessman

MILAN, June 5 (Reuters) - Former Italian prime minister Silvio Berlusconi has given his blessing to a deal to sell 48 percent of soccer club AC Milan to a consortium led by Thai businessman Bee Taechaubol, Berlusconi's holding company Fininvest said on Friday. Fininvest and Taechaubol have eight weeks of exclusive negotiations to finalise the accord which aims to relaunch the AC Milan brand especially in Asia and boost its revenues. AC Milan, seven times European champions, has been a central part of Berlusconi's media and political empire for three decades. But the club has lost some of its shine in recent years. Bee, executive director of private equity group Thai Prime, flew to Milan early last month to discuss a deal with the Italian media tycoon. A source close to the matter said earlier on Friday Bee had returned to Italy and had met with Berlusconi. (Reporting by Danilo Masoni)