ABBA reunion
Bjorn Ulvaeus announced his new project, Mamma Mia! The Party. Bjorn Ulvaeus

It's the news ABBA fans have been waiting three decades for. A new website created by band member Björn Ulvaeus has sparked rumours that the Swedish band might be reuniting.

Ulvaeus, 69, sent fans into a frenzy after revealing a new website titled Mamma Mia! The Party.

Hinting at the project he told The Local: "I've been working on this experiment for quite a while now and it's actually starting to feel ready." Giving little away, he added that he is creating a "new entertainment experiment that I will tell everyone about on Wednesday".

The website features a teaser film, which sees the 69-year-old star daubing the project's name in blue paint, followed by the infinity symbol.

While fans are hopeful that the project might mark the beginnings of an ABBA reunion, it has also been speculated that it may simply be a multimedia event or one-off performance based around the music of ABBA.

ABBA reunion
Bjorn Ulvaeus sparked rumours of an ABBA reunion with his cryptic message. Bjorn Ulvaeus

Björn, Agnetha Fältskog, Benny Andersson and Anni-Frid Lyngstad dominated the music scene in the 70s. Their global popularity sky-rocketed after they won the Eurovision Song Contest for Sweden in 1974 with the hit song Waterloo.

The band went on to have a string of international hits including Thank You for the Music, Mamma Mia, and Dancing Queen.

It was at the height of their success that Agnetha and Björn were married, while Benny and Anni-Frid were also a couple, but their marriages collapsed due to the pressures of fame.

After calling time on their respective relationships, they also called it quits as a band, splitting up for good in 1982.

Since the band's break-up, Agnetha turned her focus to raising her children and was regarded as something of a reclusive figure. She returned to the recording studio in 2013 to record her first solo album in nine years, titled 'A'. Her first album of original songs since the 80s, it was produced by the acclaimed Peter Nordhal, and included a duet with Take That front man Gary Barlow.

ABBA reunion
ABBA's wax figures at the ABBA museum in Stockholm. AFP / Getty Images

Anni-Frid married into royalty in 1992, with her wedding to Heinrich Ruzzo Prince Reuss of Plauen, a German Prince of the former sovereign House of Reuss. Following the death of the prince in October 1999, Lyngstad dabbled briefly with a solo career. She currently lives in Zermatt, Switzerland, sharing a home with her British boyfriend, Henry Smith, 5th Viscount Hambleden.

Meanwhile, Björn and Benny Andersson continued with their successful writing partnership, penning the smash hit Mamma Mia! The musical, which includes over 20 hits from ABBA's back catalogue, grossed over $600 million and spawned a Hollywood film featuring Meryl Streep.

Three decades after they broke up, Abba are still the second best-selling band of all time, with over 380 million albums sold to date.

The Swedish super group, who were famously offered $1bn (£670m) to go back on tour, have previously said they will never reform as ABBA.