China Railway denies buying stake in Inter Milan

BEIJING - China Railway Construction Corp. 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.