Leading Chinese sportswear group Li Ning Co on Tuesday denied a media report which claimed a merger proposal had been made by its rival Peak Sport Products Co.

According to netease.com, an online news portal, the press office of Li Ning disclosed that the company had not received any integration offer from Peak Sport, nor did the company ever discuss such a proposal.

Li Ning's comment came after China Economic Information magazine reported that Peak Sport had asked some financial intermediaries to contact Li Ning for a possible merger.

Global Times