Bernard Arnault and the LVMH group are not in talks with Elliott Management over the purchase of AC Milan, it is claimed.
There has been intense speculation in recent months suggesting that Arnault is more than interested in buying the Rossoneri from the American hedge fund.
Newspaper La Repubblica have gone especially big recently, as on December 27 they reported that Arnault has tabled a €975m bid to buy Milan and is awaiting a response to his offer.
They added on Monday that talks are ‘at a crucial stage’ – with Gordon Singer in Italy to hold talks with representatives of the LVMH group, while fellow fashion giant Giorgio Armani dropped a hint that Arnault is keen on buying Milan during an interview.
However, financial outlet il Sole 24 Ore (via MilanLive.it) are now claiming that there are no ongoing negotiations between the two parties over a sale. They add that, for Arnault, Milano represents a city with huge potential to better develop the core of his business, but that there are no talks.
The source have previously stated that the Frenchman is keen on buying the club, with two real estate giants wanting to get involved in the stadium project with him.