French president Nicolas Sarkozy on Monday dismissed rumours he is backing former environment minister Jean-Louis Borloo as the possible new chief executive of French utility Veolia Environnement.

When asked by French television channel BFM-Business whether the French presidency was behind rumours of a possible nomination of Borloo to replace Veolia's CEO Antoine Frerot, Sarkozy replied: It's absurd.

(Reporting by Elena Berton; Editing by Caroline Jacobs)