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The 2007 Club World Cup winners have squashed media reports of a takeover attempt from the Singaporean businessman

AC Milan have denied media reports of Singaporean Peter Lim's €300m bid for the Serie A club.

Speaking to reporters in Italy, Barbara Berlusconi, the joint-CEO of Mila along with Adriano Galliani, stated the reports had no 'foundation'.

“In general, regardless of the stories that have appeared today, the figures stated are not in line with the real value of the club," said Berlusconi. “€300m would be worth around 30% of Milan, certainly not 51%.”

Barbara Berlusconi's claims echo that of her father and club owner, Silvio Berlusconi, who had reportedly valued the club at closer to €1bn.

Since Berlusconi's purchase of the club in 1986, the Rossoneri have firmly established themselves as one of the top teams in Europe but have had a disappointing season so far, with the club languishing in mid-table under the stewardship of Clarence Seedorf.

Lim, meanwhile, is still believed to be in running to takeover Valencia and was also most recently spotted at a PSG match over the weekend.

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