French food manufacturer Danone is reported to be holding exclusive talks with UK fund BC Partners about the sale of Danone's Italian grocery distributor Galbani. According to Italian daily Il Sole 24 Ore , the talks with BC Partners come after exclusive negotiations with Italian dairy giant Parmalat failed to result in a deal. However, talks with Parmalat are ongoing although the agreed period of exclusivity has lapsed. "I think (Danone's talks with parties other than Parmalat) are further ahead," a Parmalat spokesman said.