Huiyuan Juice Group, China's largest juice firm, has denied that it is in talks to sell a stake in its business.

Huiyuan's share price spiked yesterday (7 December) following press reports that Taiwan-based food and drink group Uni-President Enterprises Corp intends to raise its stake in the firm.

Huiyuan said today that it is "not aware" of the source of the rumour and declined to comment on the accuracy of reports.

It added: "The board also confirms that there are no negotiations or agreements relating to intended acquisitions or realisations which are discloseable under the rules governing the listing of securities on the Stock Exchange of Hong Kong."

Uni-President owns a 5% stake in Hong-Kong based Huiyuan, which has a 42% share of China's juice market by volume.

Earlier this year, China's Ministry of Commerce blocked a deal that would have seen The Coca-Cola Co acquire Huiyuan for US$2.4bn.

The juice group was subsquently reported to have been courted by other potential suitors, but this has never been confirmed.