China Railway Construction Corp. said on Friday that a subsidiary
was in talks with Italian football club Inter Milan about
building a new stadium for the Serie A giants.
In a statement, China Railway Construction said the subsidiary
"is currently engaged in negotiations" with the club and what it
described as "relevant parties" about constructing the stadium in
China Railway Construction will "promptly make an announcement
when a formal contract is signed," it said in the
English-language statement to the Hong Kong stock exchange.
It identified the subsidiary as China Railway 15th Bureau Group
Inter Milan said Wednesday that China Railway 15th Bureau Group
and the club had begun a "joint effort" to construct a new
stadium, expected to be completed by 2017.
China Railway Construction also said that it was not part of a
Chinese investment group Inter Milan announced was in talks to
acquire a stake in the club, and had not engaged in any talks
towards that end.
The statement came after Inter Milan also said Wednesday that the
club had reached agreement with Chinese investors envisaged to
become the company's second largest shareholder.
Internazionale Holding S.r.l. said in a statement the agreement
"envisages the acquisition of a stake in F.C. Internazionale
S.p.A. by a group of Chinese investors".
China Railway Construction said in the statement that it wanted
to clarify to investors that neither it nor any of its companies
had negotiated with the club or its shareholders about
"acquisition of equity interest" in it.