Bee confirms, Berlusconi denies AC Milan bid

Thai businessman Bee Taechaubol of Country Group Development and rights owner of Global Legends Series (GLS) Bangkok confirmed on Monday he had made an offer of 1 billion euros to buy a majority holding in Italy’s AC Milan Football Club.

Mr Bee, executive director of Thai Prime Co, holder of the GLS football competition rights, confirmed his move in Bangkok on Monday morning. He said he wanted to buy more than a 50% stake in the football club, but not whole ownership.

He believed an agreement could be reached this month, according to reports in Thai media.

Late Monday, however, former Italian prime minister Silvio Berlusconi said he was not interested in selling control of AC Milan.

In a statement, Mr Berlusconi's holding company Fininvest said there were no talks about selling the club, which Mr Berlusconi has owned since the 1980s.

Full update: Berlusconi says not selling control of AC Milan

"Fininvest reiterates it is not interested in selling a majority stake in AC Milan," it said.

"Various parties have shown interest in a partnership involving Milan but, having said that, Fininvest categorically denies the existence of talks of any substance and of any pre- agreement or decisive meetings on the agenda," it added.

Mr Bee clarified his position after Italian media reported that an unnamed Thai investor had offered to buy AC Milan from Silvio Berlusconi for one billion euros.

The La Repubblica newspaper, reported that 30% of the club’s shares had been sold for 300 million euros.

A statement was issued on Saturday from Fininvest. It said that no such deal had been concluded, but admitted negotiations were underway, according to a report in Eurosport.