Victoria in talks over possible acquisition of part of Belgium’s Balta

In a brief statement in response to press speculation, the company said: "Whilst speculative details in the article are inaccurate, the board can confirm that it is in discussions to potentially acquire a profitable, growing part of Balta's group that it believes possesses good synergy opportunities with Victoria's existing business.

"For the avoidance of doubt, the board confirms that Victoria is not contemplating an acquisition of Balta as a whole."

Victoria said there is no guarantee any transaction will take place, but, if it did, terms would be in line with its usual acquisition criteria, including being materially earnings accretive. Any deal could be funded entirely from existing resources and in line with the board’s financial policy, it said.