Milan - The owner and chairman of Italian coffee company Massimo Zanetti Beverage group (MZB) denied on Thursday he was interested in buying bankrupt Serie A soccer club Parma as MZB gears up for its debut on the Milan's bourse.
"Massimo Zanetti strongly denies media reports about a potential interest in FC Parma," MZB said in a statement.
Zanetti on Monday kicked off the share sale of his company with the aim of listing up to 35.6 percent of the capital and to make it the first coffee maker traded on the Milan's bourse.
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MZB is offering shares at between 11.60 euros and 15.75 euros apiece, to value the company at up to 540 million euros ($602 million).
The Italian coffee group is a sponsor of Formula One's racing team McLaren this season.
Parma, bottom of the league and facing certain relegation, was officially declared bankrupt in March and last month a judge gave his approval for it to be put up for sale.
The club's players have not been paid all season and have had to do their own laundry and drive the team bus, while games were postponed because the club could not afford stewards or police at their Tardini stadium.For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page.