The board of fund supermarket Cofunds is not looking for a buyer, according to comments published on a Twitter account used by the firm in response to a report British insurer Legal & General had made an approach.

Lots of speculation today but Cofunds board is not looking to sell the business, the comments, published at about 1300 GMT on Monday, said.

Cofunds believes the best way to achieve long term value is to deliver the strategy which we have been articulating over the last few weeks, subsequent tweets from the account said, adding that it's very much business as usual.

Cofunds did not immediately return calls from Reuters and L&G declined to comment on Monday.

The tweets were still visible on the Twitter page used by the company at 1430 GMT. The account is a non-verified Twitter account, although it has been used to publicise Cofunds services and events for more than two years.

The Sunday Telegraph newspaper reported L&G has made an approach but could be usurped by private equity house Bridgepoint.

L&G already owns a 25 percent stake in Cofunds and is moving to build out its own fund platform, the newspaper said.

A deal could value the Cofunds business at 200 million pounds, the report said.

(Reporting by Chris Vellacott; Editing by David Cowell)