The board of a Canadian pension fund has confirmed that it has made a “preliminary approach” to buy one of the UK’s most well known comparison websites.

Ontario Teachers’ Pension Plan has admitted that it has North Wales-based Moneysupermarket.com in its sights after contacting its majority shareholder and chief executive Simon Nixon with regards to a possible offer.

The London Stock Exchange-listed site, which also owns travelsupermarket.com, allows consumers to compare the prices of mortgages, loans, credit cards and holidays.

The fund made its approach through Teachers’ Private Capital, its private investment division.

However, the board claims that despite the enquiry it has “no current intention of making an offer for Moneysupermarket.com”.

Ontario Teachers’ Pension Plan invests and administers the pensions of Ontario’s 278,000 active and retired teachers and currently manages some £53.5 billion of assets.