News: MQG Macquarie CEO says talk of M&G takeover bid 'speculative'

SYDNEY, March 7 (Reuters) - The chief executive of Macquarie Group Ltd (MQG) on Tuesday dismissed as speculation reports the Australian investment bank was exploring a takeover bid of about 5 billion pounds ($6 billion) for British money manager M&G MNG.L .

"There are so many speculated transactions. So we wait and talk about them once they are actually done," Shemara Wikramanayake said at the AFR Business Summit in Sydney, when asked about the deal.

The takeover bid was reported earlier this month by Sky News, which said Macquarie was yet to make an approach to M&G's board.

Macquarie has previously targeted infrastructure assets in the U.K. including the gas transmission assets of National Grid’s NG.L .

M&G has not commented on the reports. The potential deal comes at a turbulent time for the British financial services sector as retail savers and investors battle with economic recession, rising interest rates and rampant inflation partly due to the impact of the Ukraine conflict.