No Application For Tie-Up


CHINA'S Ministry of Commerce yesterday said it has not received an application from Tingyi Holding and PepsiCo for their alliance.

Tingyi signed a deal with Pepsi on November 4 to create a strategic business tie-up in China.

Under the deal, Tingyi's affiliate, Tingyi-Asahi Beverages Holding (TAB), will be Pepsi's franchise bottler in China, while Pepsi's Far East Bottlers will hold a 5 percent indirect interest in TAB.


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