Yakult Honsha Co. fell the most in six months in Tokyo trading after France’s Danone was said to consider selling its 20 percent stake in the Japanese dairy-drink producer.
Yakult fell 6.1 percent to 6,290 yen, the most since May 7, after plunging as much as 10 percent earlier today. Paris-based Danone, the world’s largest yogurt maker, has held internal discussions about a possible disposal, people familiar with the matter said, asking not to be named because the details aren’t public. The deliberations are at an early stage and no final decision has been made, they said.
“The news about Danone seems to have triggered today’s selloff” of Yakult shares, said Minoru Matsuno, president of Value Search Asset Management Co., a Tokyo-based investment advisory firm. Recent gains by Yakult had made the stock overvalued, he said.
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