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Total CEO says no reason to sell Hutchinson currently

PARIS, May 29 (Reuters) - Total's chief executive said on Friday the French oil major saw no reason currently to sell its Hutchinson rubber unit and that the group will explain in due time what its plans are for the business.

"It's a superb company, we are strongly attached to it," Patrick Pouyanne told shareholders at the group's annual general meeting in Paris. "As long as we can support the company's development, there is no reason to sell a profitable company."

"Yet, we should always look at whether it's part of the group's strategy, if it needs heavy investments ... if we're the best shareholder," he said.

"In due time, we will explain what we should do, but today there is no precise issue on the matter, only rumours, and you shouldn't believe rumours," Pouyanne added.

Sources told Reuters in February that Total was preparing for the sale or listing of Hutchinson, which could be worth up to 4 billion euros ($4.6 billion). (Reporting by Michel Rose and Benjamin Mallet; Editing by James Regan)