The Swedish superstars shot to fame in 1974 after winning the Eurovision Song Contest with their track Waterloo, but they split in 1982 at the height of their global fame.
Singer Agnetha Faltskog raised hopes of a reunion when she stated in November (13) that the four members were "thinking about" getting back together to mark 40 years since their Eurovision triumph, but Ulvaeus has now ruled out a comeback.
He tells British magazine Event, "The (Rolling) Stones have chosen to keep on playing and that's Ok. But for us to suddenly make a comeback? Why? If any one of us has opened the door a crack, I'm shutting it now!"