DUBAI - Abu Dhabi-based Emirates Telecommunications (e&) said on Thursday it has not entered into any negotiation or agreement to acquire European cable and pay TV operator United Group, following media reports of a potential bid.

Earlier this week, Bloomberg News reported that e& was considering an acquisition of United Group at a valuation of around 8 billion euros ($8.6 billion).

"In response to media reports speculating on e&’s potential acquisition of United Group BV, we confirm that e& has not entered into any negotiation or agreement in respect of United Group BV’s assets," a company statement said.

"However, consistent with our corporate strategy, e& continually reviews relevant market opportunities with the objectives of maximising shareholder value," the statement added.

(Reporting by Rachna Uppal; Editing by Kim Coghill)