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CIC denies report on Liverpool FC acquisition

Aug. 10, 2010 (China Knowledge) - China Investment Corp, the country's US$300-billion sovereign wealth fund, denied the report that it is considering to acquire the debt-ridden U.K.-based Liverpool Football Club, sources reported.

Media reported that CIC is backing Hong Kong businessman Kenneth Huang to take over the football club.

However, CIC said during an interview with British media that the company never heard the plan to acquire the football club and Huang.

Reportedly, CIC has sold a combined 23.85 million shares of Morgan Stanley for US$649 million from Jul. 21 to Aug. 3.

Media had fed speculations that the proceeds from the share disposal would be used to acquire the Liverpool Football Club.  

At the end of 2007, CIC bought US$5.6 billion worth of Morgan Stanley's shares.  

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