Swiss based and Dublin listed food group Aryzta has issued a statement responding to recent share price movements and speculation around its 49% stake in the French food group, Picard.

In today's statement, Aryzta has not confirmed or denied moves to sell the stake.

But it said its board would announce any key developments to the market at the earliest opportunity, consistent with its obligations as a listed company.

Aryzta announced earlier this year that it was evaluating alternatives for its holding in Picard.

It also said it had started the process of appointing a new senior executive team.

Shares in the company were lower in Dublin trade today.