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MILAN, Nov 26 (Reuters) - The board of Seat Pagine Gialle () will not decide on any capital increase when it meets on Thursday, the Italian directories company said on Wednesday.

The board "will not resolve upon any share capital increases," Seat PG said in a statement made at the request of market regulator Consob.

A source close to the issue had said on Tuesday the company's board would meet on Thursday to decide on mandating an adviser, Rothschild, to study a capital increase.

Another source close to the matter said on Wednesday the capital rise was aimed at allowing Seat PG, which is struggling under a heavy burden of debt, to renegotiate its debt covenants with creditor banks.

This source said the private equity firms which control Seat PG "are studying the possibility of a capital hike" and that banks were ready to renegotiate covenants in exchange for "a commitment by shareholders".

Daily La Repubblica said earlier this week the firms were studying a capital increase of 250 million euros ($324.1 million).

The firms -- BC Partners, Capital Partners, Investitori Associati, Permira PERM.UL -- took over Seat PG in 2003 by means of a leveraged buyout.

Concerns over Seat's ability to meet covenants have kept the shares under pressure in the last few months.

At 1429 GMT Seat PG shares were down 1.3 percent at 0.0602 euros while the DJ Stoxx index of European media stocks .SXMP was down 1 percent. (Reporting by Massimo Gaia and Stefano Rebaudo; Editing by David Holmes)