Chinese company denies approach to buy Man United stake

Chinese insurer Ping An Insurance Group has denied reports it has been in discussions to buy a stake in Premier League giant Manchester United.

It has been reported by the Sunday Times that a mysterious Chinese buyer has expressed an interest in purchasing a holding in the English club, which is owned by the Glazer family.

According to the report, some of United's independent shareholders have been contacted.

However, Ping An Insurance Group distanced itself from the rumours on Monday.

"The information is false. Ping An have not been involved in any discussion on purchasing a holding in Manchester United," Ping An spokesman Sheng Ruisheng said via the 21st Century Business Herald.

"And [Ping An's Chairman and CEO] Mr. Ma Mingzhe has never owned any shares in Manchester United.

"As a listed company, Ping An release all information in official statements. Please don't believe rumours."

United face Champions League title-holder Real Madrid in the UEFA Super Cup on Tuesday before kicking off its Premier League campaign at home to West Ham on Sunday.