The chairman of Russia’s leading dairy and juice maker, Wimm-Bill-Dann Foods, has dismissed speculation that Danone is looking to increase its stake in the company.
“I would be flattered if a company like Danone wanted to buy a stake in Wimm-Bill-Dann, but I don’t know of any such plan,” said WBD’s chairman, David Yakobashvili.
The speculation regarding Danone has grown after an 8% increase in WBD’s share price during the past week. Danone currently owns 6.25% in WBD but market rumours have suggested the company is looking to boost this to 51%.
