The band, which scored a series of top ten singles in the '70s including "Dancing Queen," "Take A Chance On Me," and "Waterloo," before breaking up in 1983, apparently turned down an offer from a British-American consortium to tour 100 cities, according to Reuters.

It was a hell of a lot of money to say no to, but we decided it wasn't for us," former Abba vocalist-keyboardist Benny Andersson told the Swedish newspaper "Aftonbladet" about the reunion offer.

Since ABBA's demise, Andersson and former bandmate Bjorn Ulvaeus have collaborated on a series of musicals, including "Chess" (with Tim Rice), "Kristina From Duvemala," and "Mamma Mia.

Mamma Mia" is a song-cycle based on several classic ABBA tunes and has been a theatrical hit since opening on London's West End district last year (see [article id="1424669"]"ABBA Musical To Hit London