(Yicai Global) Sept. 19 -- Gree Electric Appliances Inc. of Zhuhai [SHE:000651] confirmed in a notice on Sept. 18 that its senior management team did not consult with Tianjin FAW Xiali Automobile Co. [SHE:000927] over the purchase of its shares.

The notice also clarifies that the company, its senior management team or relevant staff never visited or entered Tianjin FAW Xiali Automobile and did not reach any kind of agreement surrounding the latter's shares.

Market participants previously thought Gree's trading suspension on Sept. 18 enhanced the credibility of reports that it was planning to acquire the Tianjin-based carmaker.

Earlier media reports quoted an insider from the firm as saying Dong Mingzhu, Gree's chairwoman, and a team from the firm were discussing buying into the auto maker and Gree staff had already been to Tianjin FAW Xiali Automobile's offices.

The carmaker announced on Sept 8 that it was suspending share trading due to major issues. The statement said it was making important arrangements based on a notification released by its controlling shareholder, China FAW Group Corp. However, the group's other listed arms continued to trade shares as normal.