French dairy giant Danone is reported to have postponed its planned takeover of Russian juice and dairy firm Wimm-Bill-Dann.
The delay in the deal is an indication of investors’ concerns about the Russian economy after the arrest of the CEO of Yukos, the country’s largest oil group, reported the Financial Times. The newspaper cited individuals close to the discussions but did not give a specific reason for the postponement.
Danone chief executive Franck Riboud confirmed earlier this month that the French company is in talks to buy Wimm-Bill-Dann, but declined to comment on the stage of the negotiations.
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