Jack Ma, Alibaba's founder and CEO, has denied reports that he is negotiating for a possible takeover of Italian Serie A club AC Milan, the Xinhua News Agency reported.
The Italian media reported on Wednesday, April 27, that Silvio Berlusconi, AC Milan owner, is seriously considering the 400 million euro ($450 million) offer made by Ma to get a 70-percent stake in the club.
However, in response, Ma made fun of it and posted a joke on Weibo on Thursday, April 28.
"Is AC Milan in the Italian city of Milan? I heard that Mike Tayson of the Lakers recently traveled to Milan, but I am not sure if it is AC Milan. Now Yao Ming will get in trouble," Ma wrote.
Ma is also the joint owner of Chinese soccer club Guangzhou Evergrande.
Chinese groups, eyeing a partnership or looking for shares, have reportedly approached two of Italy's top soccer clubs, Inter Milan and archrival AC Milan, the report said.
Robert Faulkner, AC Milan's chief spokesman, said that Suning Commerce Group, one of China's largest privately owned retailers, led by its chairman Zhang Jindong, together with a 12-person delegation, visited Inter Milan last Friday and Saturday, April 22 and 23.
Faulkner said that some Chinese groups have also expressed interest to get a stake in AC Milan.
Jack Ma, however, dismissed reports that he has plans to buy AC Milan.
Suning wants to discuss with AC Milan a potential strategic partnership, which includes potential capital investment from the retail group and opportunities for the club in China, said Faulkner.
Suning, which owns Jiangsu Suning soccer club, is also interested in academy structure and training center of Inter Milan, Faulkner added.
Three or four potential investors have been in talks with Inter, but "the discussions with Suning are probably at the most advanced stage, as they came to visit us in Milan," the spokesman said.