Forty years after they shot to global super stardom with their victory at the Eurovision Song Contest, ABBA have once again ruled out reforming despite being offered $1 billion to tour one more time.

Frida Lyngstad (68) says that the band no longer had the "energy and motivation" to embark on a tour, despite huge demand.

She was speaking at a party at London's Tate Modern to mark 40 years since ABBA's took the Eurovision Song Contest by storm with their song Waterloo in 1974.

The four members of the Swedish band said they met three months ago to discuss their anniversary, but once again ruled out getting back together.

“We only have one answer and that is no - we’re not going to do it," Lynstad said, and pointing to a picture of the band in their heyday, added: "That’s how we looked at that time, with all the energy, excitement and motivation. It’s not exactly the same nowadays, if you know what I mean.

“We all met because we wanted to talk about what we should do for our 40th. It was a lovely meeting. It was like time had stood still and we were back to where we were.

"We had the same bond, we bonded instantly. But no amount of money would change our minds. Maybe we sometimes say it would be good to do a song together again, just a recording and nothing else, but I don’t know if that will happen - so don’t say that we will!

“There’s isn’t a day when we’re not reminded about Abba. It has brought so many happy things into my life.”