Distance is growing between AC Milan owners Elliott Management and potential buyers Investcorp.
Investcorp are willing to pay €1.2bn with €400m of loans in addition to €800m of equity for the Rossonero.
Elliott are unhappy with the structure of Investcorp's offer and have opened the door to RedBird Capital making a rival offer.
Investcorp are demanding Elliott stop dragging out negotiations and Tuttosport says the hedge fund is unhappy with the ultimatum.
Talks between the two parties have now been put on hold.
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