Dassault Aviation on Thursday dashed speculation that it could take on the mantle of core French industrial shareholder at Thales, the defence electronics company, by acquiring the 20.8 per cent stake held by troubled telecoms equipment group Alcatel-Lucent.

Charles Edelstenne, executive chairman of the civil jet and military aircraft group, insisted that the company had no interest in increasing its 5 per cent stake in Thales. Repeatedly asked whether Dassault would consider buying Alcatel’s stake if it were for sale, the 70-year-old aviation boss replied with a firm “No.” In fact, he added, the group’s aim was to sell its entire holding.