(Yicai Global) Nov. 2 -- Financial behemoth CITIC Group and Naspers, Tencent Holdings' largest shareholder, have denied a media report of an alleged asset sale that would change the controlling shareholder of the Chinese internet giant.

Prosus, a subsidiary of South African multinational corporation Naspers, said in a statement yesterday that an article published by Asian Tech Press on Oct. 31 related to the acquisition rumor is "speculative and untrue."

However, Prosus continues with its open-ended share repurchase program announced in June in an orderly manner, the Dutch unit said. The program is funded by sales of small numbers of Tencent shares. Still, the company has confidence in Tencent’s long-term prospects, it added.

Sources from state-owned investment company CITIC told Yicai Global that the Beijing-based firm is not acquiring Tencent.

Tencent insiders chimed in. "Rumors are going around and around and who knows when will they stop," Zhang Jun, general manager of public relations, wrote in a WeChat moment yesterday.

This is not the first rumor about an acquisition of the social media and game giant whose Hong Kong-listed shares have dropped by nearly half this year. Previously, there were whispers about wireless carrier China Mobile's alleged plans to invest in Tencent but the Shenzhen-based firm denied the claim.

As of Oct. 28, Naspers and Prosus held a nearly 28 percent stake in Tencent. The South African company spent USD32 million to have 46 percent of Tencent in 2001. However, the single largest shareholder does not have voting rights due to the Chinese firms' variable interest entity structure.

Tencent's stock price [HKG: 0700] edged 1.4 percent up to HKD230.60 (USD29.40) as of 1.54 p.m., after hitting a seven-day high yesterday.

Editor: Emmi Laine, Xiao Yi