The group has long denied speculation they would ever get back together for a reunion, with Faltskog and songwriter Bjorn Ulvaeus recently insisting they are now too old.
However, the 63 year old singer has now revealed they received a lucrative tour offer, rumoured to be in the region of $1 billion, to hit the road again for a massive global concert series, but they turned the deal down.
She tells Britain's Radio Times magazine, "We said no because they wanted 250 shows or something, it was incredible. No chance! No chance."