Groupe Danone has stayed silent on a French report that it is looking to sell its LU biscuits business.
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Speculation has swirled in France that Danone is ready to offload the business, which could fetch around EUR3.5bn (US$4.7bn).
A report in French magazine Challenges said the division could attract buyers including Kellogg Co. and Kraft.
A Danone spokesperson was tight-lipped on the subject: “We never comment on rumours that regularly appear in the press,” she said.
The market seemed to approve of the speculation with Danone shares up almost 2% as just-food went to press.
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