Former long-serving Leighton (ASX: LEI) chief executive Wal King today broke his silence, ending speculation he would be returning to the Australian contractor.

Speculation on Mr King’s return came after Spanish construction group ACS, which is set to take control of Leighton's majority owner, German construction group Hochtief, expressed intent to bring him back as a non-executive director.

Mr King said in statement “To date I have not made any public comment about that speculation. I wish to advise that I have not been offered a position nor am I seeking a position on the Leighton board.”

“I will continue to support the company in any appropriate way through my consulting arrangement,” he said.

His statement comes off the back of Leighton’s annual strategy meeting in Sydney this week, which was attended by ACS and Hochtief representatives.

Shares in Leighton slumped below the $22.30 mark in morning trade today, below the $22.50 issue price for the recent capital raising.