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Last Updated: Friday, 13 April 2007, 07:46 GMT 08:46 UK
CVC may be rival Altadis bidder
Altadis cigarettes

CVC could try to top Imperial Tobacco's 12.3bn ($24.4bn) bid for Gauloises cigarette maker Altadis, reports say.

CVC is the private equity group that abandoned its ambitions to buy the supermarket chain J Sainsbury earlier this week.

The Financial Times reports that CVC plans a joint bid with French private equity group PAI for Altadis, which has rejected Imperial's latest offer.

A spokesperson for CVC declined to comment on the reports.

The newspaper also says Cinven is in talks about joining the bidding consortium.

CVC is linked with Altadis through Carlos Colomer Casellas, who is a member of both the Altadis board and CVC's advisory committee.

Imperial says that its latest offer for Altadis is "full and fair", having raised its initial offer by 4.4%.

Altadis snubs fresh Imperial move
10 Apr 07 |  Business
Imperial may buy Gauloises firm
15 Mar 07 |  Business
Imperial buys US cigarette firm
08 Feb 07 |  Business
Imperial not worried by smoke ban
31 Oct 06 |  Business
Imperial to shut Liverpool plant
28 Jul 06 |  Business
No smoke without profits
09 Feb 06 |  Business

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