15 Sept - The Chinese Ministry of Commerce is to hold a meeting on Coca-Cola's US$2.4 billion bid to buy out the country's largest juice manufacturer Huiyuan, sources report.
It is believed domestic juice companies will use the hearing with Government officials to present proposals to hijack the purchase by the US drinks giant. Reports suggest they will seek to replace Coke’s deal by tabling three new acquisition plans for Huiyuan.
The proposals could see Huiyuan broken up and sold to Chinese producers, said state news agency Xinhua. Another scheme would see Coke allowed to complete the takeover but keep the Huiyuan brand and sell it to Chinese firms.