CASCAIS, Portugal, Sept 21 (Reuters) - Dutch company Ahold (AHLN.AS: Quote, Profile, Research) may not sell its 49 percent stake in Jeronimo Martins Retail, a unit of Portuguese retailer Jeronimo Martins (JM) (JMT.LS: Quote, Profile, Research), the chief executive officer of JM said on Friday.

Jeronimo Martins controls 51 percent of Jeronimo Martins Retail and was in talks to buy Ahold's 49 percent stake in JM retail, JM's chief executive Luis Palha said on Friday.

Ahold's stake in Jeronimo Martins Retail is valued at around 500 million euros ($705.5 million), according to analysts.

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