Norsk Hydro declines comment on Alcan bid report

OSLO  - Norwegian aluminium group Norsk Hydro declined to comment on a newspaper report that it has begun work on a bid for Canada's Alcan.

"We don't comment on any kind of market speculation over a rumoured strategic move," Norsk Hydro spokeswoman Inger Sethov said.

Canadian daily Globe and Mail reported that Norsk Hydro was working on a bid for Alcan worth more than $30 billion. (15.1 billion pounds).