UPDATE 1-Vattenfall not decided on sale of Swedish grid

(Recasts with company denial)

STOCKHOLM, Nov 10 (Reuters) - Vattenfall AB [VATN.UL] denied on Tuesday a media report saying it was about to sell the power group's electricity network in Sweden, saying no decision had been taken.

Earlier on Tuesday, Swedish media reported Vattenfall's chief executive was keen to sell the company's entire electricity network in Sweden to free money to invest in Britain's nuclear power industry.

"Vattenfall denies a report by Swedish TV4 that the company is about to sell its Swedish distribution business," the company said in an emailed statement.

"No such decision has been taken either by the group management or the board."

Channel 4 reported on its website, quoting sources and a policy document, that Vattenfall CEO Lars Josefsson wanted to sell the Swedish grid -- valued at some 50 billion Swedish crowns -- despite protests from some in management.

According to the document, Vattenfall wants to find a buyer for its electricity grid by the end of the year, with final negotiations on a sale completed next autumn.

Sources told the news channel the power giant wants to free up cash through an asset sale so it can buy into British nuclear power plants. (Reporting by Mia Shanley and Alex Lawler in London; editing by Andre Grenon)