Dubai ruler to bid for AC Milan

MILAN - The ruler of Dubai is preparing an offer to purchase 40 percent of AC Milan for around 400 million euro, MF business newspaper reported on Tuesday.

AC Milan's owner Fininvest SpA, the holding company of Prime Minister Silvio Berlusconi's family, could get the offer this week, MF said.

The bid from Sheikh Mohammed bin Rashid al-Maktoum could include an option to buy the rest of AC Milan in two years, it said.

Milan have denied any talks were under way. Asked in a television interview late on Monday about sale of the club, Berlusconi said, "You, like all other journalists, are completely divorced from reality."