SHANGHAI, China: State policy lender China Development Bank on Wednesday denied reports that it is involved in the purchase of a stake in mining company Rio Tinto.

"There's no matter like this," Yang Hua, a spokeswoman at the Chinese policy bank said.

The German daily newspaper Handelsblatt wrote in an advance copy of its Wednesday issue, citing unnamed sources at the Chinese bank, that China Development Bank was preparing the purchase of a stake in Rio Tinto on behalf of an unnamed Chinese company.

The paper said the price had not been fixed but a contract was due to be signed soon.

CDB earlier denied a report in London's Sunday Telegraph that the bank had taken a stake of less than 1 percent in Rio Tinto.

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