Roshen has moved to quell rumours that the Ukrainian confectioner has entered into an agreement that would see Norway’s Orkla take control of the business.

Earlier this week, Russian publication Xpinform.ru claimed Orkla had acquired Roshen, citing a source at investment bank Renaissance Capital.

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Roshen described the report as “groundless” and insisted it has not employed Renaissance Capital for a “considerable time”. The group also emphasised it had not received an official request for comment from the publication.

Roshen operates in over 30 countries and is continuing to expand into new markets, the company said in a statement. This development has been achieved “without borrowing”, Roshen emphasised.

Orkla was unavailable for comment at time of press. 

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