Taiwan's Uni-President Enterprises Corp on Monday denied a newspaper report that the food company is considering increasing its stake in China's Huiyuan Juice.
"We currently have no such investment plan," a Uni-President spokesman told Reuters.
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Shares of Huiyuan Juice ended up 19.14 per cent on Monday on speculation that Uni-President may take over the Chinese fruit juice company.
The Economic Daily News had cited an unidentified manager at Uni-President in a report that said Uni-President, which has a 5 per cent stake in Huiyuan, was considering raising its stake in Huiyuan next year and would not rule out the possibility of taking it over following Taiwan's relaxation on investment in Chinese companies.
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