AC Milan have won the Champions League 3 times and been runners up 3 times. Prior to that they had won the European Cup 4 times, (which was in fact The same competition, but only open to the winners of each European countries domestic league and was played on a knock out basis.)
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The UEFA Champions League, which was formed in 1955, has awarded it's cup to Inter Milan (Football Club Internazionale Milano) on two occasions. In the 1963-1964 season, Inter shut down Real Madrid 3 to 1, and in the 1964-1965 season, Inter defeated St. Benfica 1 to nil. Got links if you want 'em.
A.C. Milan have won the champion league 7 times.
Inter Milan have won it 3 times.
A.C. Milan have won the champion league 7 times, Inter Milan have won it three times.