On Wednesday the Egyptian Competition Authority had said it had referred the CAF president Issa Hayatou to prosecutors for investigation. It said he was suspected of not opening up the tender to free and fair competition as required by Egyptian law.
CAF is based in Cairo so the authorities say it must follow their laws.
CAF said the reports were false, adding that in the letter it was sent by the competition authority there was no mention of any prosecution against Mr Hayatou.
The media company, Lagardere, is not the subject of the referral but says the allegation is wholly unfounded.