British media group SMG Plc said it was not considering offers for its Virgin Radio business, following newspaper reports yesterday that it had rejected a cash bid for the national commercial radio station.

The Daily Telegraph said SMG had rejected a £100 million cash offer from media entrepreneur Waheed Alli, who it said had joined venture capital company 3i Group Plc to make an offer for Virgin in December.

A spokesman said the company received approaches all the time, but SMG's policy was not to discuss them.

"You can expect us to receive approaches as Virgin Radio is a great business. There is nothing under consideration by the SMG board at the moment," Corporate Affairs Director Callum Spreng said.

SMG has in the past said it had no plans to sell Virgin Radio, one of just three commercial national radio stations in the UK and the only one with a rock and pop format.

The Telegraph newspaper said Mr Alli was attracted by the radio station's brand and young audience.

Shares in SMG, which also owns most of Scotland's commercial TV network, were up 3.6 per cent at 108 pence by 0830 GMT, making it the top gainer among London's midcap stocks.