Shares in the British pharmaceutical firm, Zeneca Group, set a record yesterday amid renewed rumours that Swiss giant, Roche Holdings AG, was nursing a takeover bid but the shares fell back as analysts dismissed the chatter.

"It would have to be a very attractive deal for (Zeneca's) shareholders," Kleinwort Benson analyst Mr Steve Putman said of a possible bid. "I think it's unlikely for now. Whether the company disappears in two years time is a different story."