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FRANCE: Pepsi Danone talk unnerves government

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Rumours that PepsiCo may make a bid for Danone have intensified, leading to concerns from the French Government. Recent speculation, that the US soft drinks giant may look to buy Danone, picked up yesterday (18 July), despite continued claims that Pepsi had not built up a stake in the French company.

The chairman of the Parliamentary economic affairs committee, Patrick Ollier, said yesterday that he was concerned that Danone might come under control of the US company. Ollier told AFX that the move would be "culturally awkward."

French radio has reported that Pepsi may make a bid of €115 per Danone share.

However, Groupe Danone again said today that PepsiCo had not built up a stake in the food and drink company, 86% of whose capital is publicly-traded. Anyone who owns over 0.5% of Danone capital must declare theselves to the company.

PepsiCo also once more denied it had built up a shareholding, reiterating a statement it made earlier this month.


Sectors: Soft drinks, Water

Companies: Groupe Danone, PepsiCo

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