LONDON (Reuters) - South African insurer Old Mutual (OML.L: Quote, Profile, Research) said on Wednesday it saw no reason to raise its bid for Swedish financial group Skandia (SDIA.ST: Quote, Profile, Research), quashing talk it would raise it to around $6.1 billion (3.5 billion pounds) from around $5.6 billion.

"We do not see any reason to amend or increase it (the offer)," a spokesman for London-headquartered Old Mutual (OMLJ.J: Quote, Profile, Research) said.

Swedish newspaper Dagens Industri said on Wednesday Old Mutual might consider raising its cash and stock offer to around 48 crowns a share from around 44.6 crowns a share if Skandia's board backs the offer, citing sources.

The newspaper quoted the sources as saying that even a small rise in the bid could persuade reluctant Skandia shareholders to sell, otherwise they faced being left with shares in a company controlled by Old Mutual, even if it wins only 50 percent.

It said a weakening crown against sterling meant that Old Mutual could raise its offer by three crowns without actually increasing the sterling value of the offer.

The Skandia board has rejected Old Mutual's offer as too low. Its chief executive said last week that he thought a price per share of at least 50 crowns would be fair.

This is cache, read story here