AUSTRALIA'S largest winery has hosed down speculation it's on the market.
Reports Treasury Wine Estates could end up in foreign hands have been circulating since last week.
But TWE spokeswoman Elizabeth Middleton said articles featured in The Australian were a rehash of old speculation and analyst comment.
"As such we see no point commenting further on them, and are focusing our efforts on building the worlds most successful and celebrated wine company,'' Ms Middleton said.
Institutional investors have predicted TWE is preparing for a takeover offer with a potential bidding war netting up to $4.2 billion.
Experts said China - fast becoming a major global wine investor - would likely be interested in the company.
Last week The Weekly Times received an anonymous tip off that Bright Food was set to take over the company.
Bright Food is a multinational food and beverage manufacturing company headquartered in Shanghai, China, and is said to have had it's eye on the Australian wine market.
TWE heads 54 wine labels including prestige label Penfolds.
Operations at the company have been tense for months now, with staff unrest leading to a lockout at TWE's Karadoc plant, outside Mildura.
In late November TWE locked out more than 100 workers overnight over a failure to resolve a pay dispute after eight months of negotiations.