Argentine textile maker Alpargatas has denied rumours that it is for sale, according to a statement to the local stock exchange quoted by Dow Jones.

Reports said last week that a handful of Brazilian businesses were considering making bids for Alpargatas.

Alpargatas denied this, saying: "The board of directors has no knowledge of negotiations concerning a significant number of the company's shares.

"Furthermore, there have neither been visits of presumed interested parties to the company's plants and offices, nor are there known negotiations as described in the media reports."