Trading in Eniro shares halted in Stockholm after takeover rumor.

• Eniro's CEO sacked after share price collapse
• Shares in Eniro tumble after creditor pressure

The Stockholm stock exchange said on Wednesday it has decided to halt the trading in shares Eniro AB, the biggest yellow-pages publisher in the Nordic region.

The move came after speculations that a new investor would swallow the company in an all-share takeover bid. Later the same day Eniro slammed the rumor as "media speculation" and said there are no ongoing talks with new external investors.

"Eniro confirms that negotiations are ongoing with lending banks regarding changes to the loan agreement and the company’s capital structure. In connection with this Eniro has appointed financial advisors", the company said in a statement Wednesday afternoon, adding that no bids have been made for the company.

"There are no ongoing negotiations with external parties in relation to the aforementioned".

Shares rallied more than 30 percent Tuesday morning after rumors that Eniro is in talks with private equity companies to raise fresh cash. Business daily Dagens Industri said that an investment from a private equity company probably would lead to a total takeover.

Proventus, a investment company controlled by Swedish businessman Robert Weil, was said to be the most likely investor. Also investment companies Altor and Triton were said to be interested.

The search industry has been hit by deep-seated structural changes. Last month Swedish media said that Eniro may be forced to raise 2.5 billion kronor ($365 million) through a share sale to avoid its creditors taking over the company.

Earlier last month the company sacked its CEO Jesper Kärrbrink. It also said it would review its financial targets after years of worsening conditions for the search directory industry. An updated outlook statement for 2011 will be presented in connection with the third quarter report on 28 October.

When trade in its shares were resumed Wednesday afternoon they immediately fell back 11 percent at the Stockholm exchange.

Shares are down almost 80 percent since the turn of the year.