Focus Media Holding said on Tuesday the Muddy Waters report accusing the firm of overstating the number of screens in its LCD network, is completely untrue.

The Muddy Waters report about Focus Media is completely untrue, Alan Ji, a spokesman for Focus Media, told Reuters.

Ji said the firm would be releasing its statement rebutting Muddy Waters' claims before U.S. markets open on Tuesday.

(Reporting by Melanie Lee; Editing by Jacqueline Wong)