(Agencies)
Updated: 2007-09-23 16:50

HONG KONG - Asia's second-richest man Li Ka-shing has denied plans to take over soccer giant Inter Milan, Hong Kong media reported Sunday, after an Italian Web site reported details about a possible deal.

Li Ka-shing

The Hong Kong tycoon Li would offer 350 million euros (US$490 million) to Inter President Massimo Moratti in the next few days to acquire the football club, Italian sports Web site Francorossi.com reported.

Li would fork out at least 150 million euros (US$210 million) to purchase new players, including Ronaldinho as primary target, it said.

But a spokesman for Li's conglomerate Cheung Kong Holdings denied the report, saying Li had no plans to take over Inter, the Ming Pao Daily reported.

Li was ranked Asia's second-richest individual - after Indian steel magnate Lakshmi N. Mittal - and ninth in the world by Forbes magazine this year, with a net worth of US$23 billion (16.8 billion euros).