Le Holdings, known as Letv, on Tuesday denied that it had taken a stake in Beijing Guoan, a Chinese professional soccer club.
The comment followed multiple media reports that the Beijing-based company had acquired a 50 percent share in Beijing Guoan for 2 billion yuan ($307 million) late on Monday.
"That couldn't have happened because I was in the US at that time," said Lei Zhenjian, CEO of Letv Sports, Le Holdings' sports arm, in a Weibo post on Tuesday.
Letv Sports is scheduled to announce a partnership with US Major League Baseball in Las Vegas, Nevada on Wednesday.
