Wahaha to sue Danone for 5b euros
Afp, Shanghai
China's largest drink maker, Wahaha Group confirmed Tuesday it intends to sue its French partner Groupe Danone for up to five billion euros (6.7 billion dollars) for conducting illegal business. "We will countersue Danone, asking for two to five billion euros in damages," the company said. "We have reliable evidence of their violations and will pursue their illegal activities according to the law," read the statement first issued on Monday. "Wahaha is confident that the facts will reflect its dutiful and faithful performance in its relationship with Danone over the past 11 years." Hangzhou city-based Wahaha did not say when or where it would sue the French firm it has partnered with since 1996, but company spokesman Shan Qining on Tuesday acknowledged the plan, declining further comment. A spokeswoman for Danone refused to comment.
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