French nuclear company Areva (CEI.FR) Friday said it hadn't been approached by mining company Eramet SA's (ERA.FR) largest shareholder, the Duval family, to break the shareholders' pact.
"We haven't been approached by the Duval family on that matter," an Areva spokesman said.
Les Echos cited people close to the matter saying the Duval family, which owns a 37% stake of French mining group Eramet S.A. (ERA.FR), is leaning toward not renewing its pact with nuclear energy engineers Areva (CEI.FR), which holds a 26% stake in the company.
Areva wants to extend the pact, which dates back to 1999, Les Echos said.
The two partners have until the end of May to break the pact if they wish, the newspaper said. Otherwise, it would be renewed for another year from July 1.
The two sides are expected to take up negotiations after Eramet's annual meeting April 16, the newspaper added.
The Duval family's stock is worth around EUR5 billion, the newspaper said.