French insurer Axa SA (AXA) believes its proposed purchase of AXA Asia Pacific Holdings Ltd.'s (AXA.AU) Asian assets still has a chance of going through, despite AXA Asia Pacific's rejection of the deal, Axa SA's chief financial officer said Monday.

"We believe that we are not too far from something that is more likely than not to happen," Denis Duverne said during a conference call.

Axa SA has "a little bit of flexibility" to raise its offer, but "not much," Duverne said.

AXA Asia Pacific said earlier Monday it rejected an A$11 billion cash and equity takeover proposal from Australian wealth manager AMP Ltd. (AMP.AU), which plans to sell the target's Asian businesses to Axa SA.

-By Jethro Mullen, Dow Jones Newswires; 33 1 4017 1738; jethro.mullen@dowjones.com
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