* SeLoger.com says Axel Springer's offer undervalues it
* SeLoger criticises Springer for lack of communication
* Says no date was set for offer
* Springer CFO tells paper will not raise offer
(Adds Springer CFO comments from newspaper)
PARIS, Sept 15 (Reuters) - The board of French online property ad group SeLoger.com rejected a takeover offer from Axel Springer as too low on Wednesday and criticised the German publisher for a lack of communication.
Comments by Springer's finance chief, Lothar Lanz, in an interview with German newspaper Boersen-Zeitung, meanwhile, suggested Springer would not raise its offer.
Springer said last week it had already agreed to buy 12.4 percent of SeLoger for 34 euros a share and that it planned to launch a public offer at the same price, valuing it at 566 million euros ($735.5 million).
SeLoger shares have since risen above the offer price and closed on Wednesday at 37.96 euros, indicating the market may be expecting more.
"The board believes that the price of 34 euros a share... does not reflect the intrinsic value of the SeLoger group and its growth prospects," SeLoger said in a statement.
The board also pointed to an "absence of communication" regarding the terms of Springer's acquisition of 12.4 percent of the group.
Springer's Lanz told Boersen-Zeitung there was no reason to improve the offer.
"We believe that the price of 34 euros represents a fair value for the company," he was quoted as saying in the paper's Wednesday edition.
Groupe Arnault, the investment company controlled by LVMH Chief Executive Bernard Arnault, already indicated it would not sell its 9 percent stake at 34 euros. Australian investment fund Caledonia Investments bought 10 percent of SeLoger on Tuesday.
SeLoger, which was created in 1992, carries nearly 2 million online classified property ads and provides information on related services such as insurance. (Reporting by Astrid Wendlandt; Editing by Will Waterman and Louise Heavens) ($1=.7695 Euro)