Vranken-Pommery Monopole has given more details of its plan to buy the minority shares in its Pommery brand, according to local reports. The French Champagne group, which owns 66.5% of Pommery, will carry out a rights issue without pre-emptive purchase rights, Les Echos said yesterday (25 October).

Vranken-Pommery Monopole's 68.62% shareholder, Compagnie Vranken pour le Haut Commerce, intends to guarantee the rights issue and to subscribe to it in proportion to its stake, the paper added.

Earlier this week, Vranken-Pommery posted a narrowed net loss in the first half of this year as revenues and operating profits improved.