UPDATE 1-Future Fund eyeing Macquarie's airports stake-report

* Macquarie rumoured seeking A$1.5 bln for MAP stake - report

* Macquarie Group declines comment

* MAP shares up 1.6 pct (Adds no comment from Macquarie, updates MAP shares)

MELBOURNE, March 29 (Reuters) - Australia's sovereign wealth fund, the Future Fund, is considering buying Macquarie Group's (MQG.AX) 23.2 percent stake in airports fund MAP Group MAP.AX, an Australian newspaper reported on Monday.

Macquarie is rumoured to be looking for a price of around A$1.5 billion ($1.36 billion) for the stake in the fund that it managed until last year, The Age newspaper said.

Macquarie Group declined to comment on the report, and a spokesman for the Future Fund was not immediately available.

MAP shares rose 1.6 percent to A$3.13 after the report, outpacing a 0.3 percent gain in the broader market.

At that price, a 23.2 percent stake in the fund, the world's only infrastructure fund dedicated to airports, would be worth A$1.3 billion. ($1=1.106 Australian Dollar) (Reporting by Sonali Paul; Editing by Ed Davies)