Italian confectioner Ferrero is still considering a move for Cadbury according to reports.
Italian newspaper La Stampa claims the maker of Ferrero Rocher is “still evaluating the possibility of acquiring the British sweets group” although the family owned company would not comment on the report.
The Birmingham chocolate maker is currently fighting a hostile takeover bid from US rival Kraft, which has offered around £10.2 billion to take over the group - an offer described as ‘derisory’ by Cadbury chairman Roger Carr.
The group is reportedly in talks with US rival Hershey over a possible “white knight” offer.
Cadbury has declined to comment on the reported discussions with Hershey, but confirmed expressions of interest by potential rival bidders.
Hershey has already said it is considering options for Cadbury.
Cadbury is widely speculated to favour a tie-up with Hershey, with which it already has a business relationship as Hershey holds a licence to make Dairy Milk bars and Cadbury Creme Eggs in the US.
Kraft’s approach - worth around 725p a share - is also seen as being far short of the 850p price analysts believe Cadbury can fetch and has been quickly dismissed by the group’s board as being “wholly inadequate”.
Cadbury shares are currently trading at just under 800p each.