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Wahaha to sue three joint-venture directors from Danone (2) |
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13:50, July 04, 2007 |
Danone was unavailable for comment on Wahaha''s intentions announced at the press conference.
The move was the latest in the dispute between the Chinese drink group and the French giant that first emerged in April but has since taken on a highly public tone.
On June 26, Wahaha said it had decided to "demand justice by legal procedures" after Danone had filed for arbitration and lawsuits against it.
Wahaha said in a statement, "We will respond actively to the lawsuits filed by Danone in Stockholm and the United States, and we plan to launch a countersuit demanding compensation of two billion, three billion or five billion euros."
The statement continued, "We have conclusive evidence that Danone has broken the law.
"Wahaha is not against the opening-up policy of China, or cooperation with others, or cooperation with foreign investors. However, we want the cooperation to be equal, mutually beneficial,complementary, mutually respectful with equal interest," the statement said.
Wahaha has applied for arbitration over a trademark dispute with Danone at the Hangzhou Arbitration Committee, asking the committee to terminate a trademark transfer contract signed between Hangzhou Wahaha Group and the joint venture of Wahaha and Danone in 1996.
[1] [2] [3]
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