Italian news

Italian giants AC Milan deny Libyan sale reports

September 4, 2009

Fininvest, holding company of Italian Prime Minister Silvio Berlusconi, on Friday denied a newspaper report that it was considering selling AC Milan to Libyan sovereign funds.

"There are no plans to sell a stake in AC Milan," Fininvest, which owns all of the club, said in a brief statement.

In an unsourced article, La Repubblica daily said Berlusconi had discussed AC Milan with Libyan leader Muammar Gaddafi during a visit to that country on Sunday.

He had sounded out the idea of selling the club in phases to Libyan sovereign funds, the newspaper said, valuing it at 600 million to 800 million euros.