Chinese company in talks for Inter Milan stadium

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 Milan.

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 Co.

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.

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