Salma Hayek Calls Off Engagement

Salma Hayek's engagement to French billionaire Francois-Henri Pinault has been called off.

The 'Lonely Hearts' actress -- who recently revealed she would be spending $3.5m on her wedding to Pinault, with whom she has a 10-month old daughter -- was set to tie the knot later this year, but her rep has confirmed the couple's plans have now been "canceled".

"We are sad to announce the engagement of Salma Hayek and Francois-Henri Pinault has been canceled. There will be no further comment," the rep said in a statement.

Salma -- who met Francois-Henri, the CEO of PPR, the luxury-brands empire that owns Gucci, Yves Saint Laurent and Balenciaga, in Venice in May 2006 -- said earlier this year she didn't see the importance of getting married, and instead wanted to celebrate their relationship with a huge party for friends and family.

She said, "I don't have a need for marriage. You want to grow old with someone, you want to have a partner and to have children - we have all those things. Some people need the commitment. Maybe we'll just have the party!"

In the interview, Salma also insisted the couple were happy with their relationship and could cope with Francois-Henri living in Paris, France, while Salma stays with Valentina in Los Angeles.

She added, "To most women it's crazy. But every relationship is unique, and in order to make it work you have to be willing to listen - not only to your partner, but to the relationship itself.

"You have to be brave enough to say, 'This is who we are. We might not look like the perfect couple, or like our parents did, but this is our love story.' "