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Spotify denies Apple advances

European music streaming outfit Spotify has quashed rumours of an Apple buy-out saying that it has no plans to sell the business.

Talking to the BBC's Newsbeat, a spokesman for the outfit said, "We're working hard to build the best music service we can and are in this for the long haul. We wouldn't normally comment on this kind of speculation, but we want to make it clear that we have absolutely no intention of selling Spotify."

Speculation about Apple's music streaming ambition has been doing the rounds for months now, and it would make perfect sense for the Cupertino company to buy a complete solution off the shelf, but having just made a massive investment in a new 500 million square foot data centre, the likelihood is that the Mac maker will go it alone.

Apple already has a rock solid relationship with the recording industry having become the biggest retailer of music on the planet through the iTunes online store.

The music industry has resisted the move towards a streaming model, fearful that easy access to unlimited music would take money out of the Caymen Island accounts of billionaire bosses, but they said that about sheet music, radio, FM radio, the compact cassette, recordable CDs, MP3s and digital radio.

Spotify has recently jumped on the social notworking bandwagon with Facebook and iTunes Ping integration.