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Coca-Cola Amail has distanced itself from speculation linking it to a bid for Foster's Group, according to local reports.

The Australian drinks company was linked to a possible move for Foster's in May, with Foster's revising its fiscal 2008 earnings outlook, unveiling a non-cash write down to wine asset carrying values and making a strategic review of its global wine business in June.

But reports out of Australia today (8 July) cited CCA's managing director as saying that a bid was not on the company's agenda.

"You can never say never, but at this price I can say we will not bid for Foster's," Davis was quoted as saying. Foster's currently has "too many operational issues" to consider a move at this stage, a report cited Davis as saying.


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