China Railway Construction Corp. (CRCC) on Friday denied media reports that it had reached an agreement with Inter Milan to buy the Italian football club's 15-percent stake.
"The company, its holding companies and its joint-stock companies have never engaged in negotiations with Inter Milan on stake purchases," CRCC said in a statement filed to the Shanghai Stock Exchange.
However, the statement said the China Railway 15th Bureau Group, controlled by CRCC, was in talks with Inter Milan to build a new stadium at the San Donato Site.
Recently, media reported that CRCC would buy a minority stake in Inter Milan to become the club's second-biggest shareholder, citing a circular on the club's website.
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