The Russian drinks and dairy products group, Wimm-Bill-Dann, has said it is in talks with Danone, Nestle and PepsiCo regarding possible future joint ventures, co-operation deals or asset sales.

"We are constantly in talks with Groupe Danone, Nestle SA, Pepsico Inc. and the like over possible cooperation," said WBD's chairman, David Yakobashvili.

Yakobashvili said the talks could also involve the possible sale of a stake in WBD to one of these major companies. "The mechanism of cooperation will depend on the offer," Yakobashvili said. "There is no need for us to be a closed company. We are open for suggestions and believe we can achieve a lot more via cooperation."