Natixis said it is not currently in talks to sell its 42% stake in French credit-insurance group Coface, pouring cold water on a report over the weekend that Apollo, the private equity group, had made an offer.

In a statement to the Paris stock exchange, the French bank said it “regularly explores options for its holding in this asset” but “there is currently no discussion underway likely to give rise to the submission of an offer for this holding”.