MILAN (

TheStreet

) -- Italian candy company

Ferrero

is still mulling a possible bid for Britain's

Cadbury

(CBY)

, says a report by Italian newspaper

La Stampa

.

The newspaper quoted the Italian company in a report over the weekend.

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Cadbury, the U.K. confectioner, earlier this month said its board unanimously

rejected a takeover offer

from Kraft Foods, reiterating that the $16.2 billion offer was "wholly inadequate" and recommended shareholders reject the bid.

"Things are exactly as they were a month ago. Nothing has changed," a Ferrero spokesman told

Reuters

, declining to comment further. The spokesman denied a report in

La Stampa

which said that Ferrero's interest in Cadbury had cooled.

Hershey

(HSY) - Get Hershey Company (HSY) Report

and the privately held Ferrero previously said they were contemplating a rival bid for Cadbury.

Ferrero makes Nutella spread and Tic-Tac candies.