REFILE-Activist Peltz wants to raise Danone's stake-report

Fri Nov 16, 2012 5:33am EST

(Corrects day of the week in first paragraph)

PARIS Nov 16 (Reuters) - Activist investor Nelson Peltz wants to sharply raise his stake in French food group Danone PA> to gain a say in its management, the Wansquare website said on Friday, without citing its sources.

Peltz and Danone could not be immediately reached for comment.

Peltz, co-founder of U.S. investment firm Trian Fund Management LP, said last week it bought a 1 percent stake in Danone, the world's largest yoghurt maker.

The billionaire businessman, who often wrestles with management at companies he considers undervalued or poorly managed, has said Danone was undervalued and should implement cost cuts and other measures to boost its stock price.

Danone, which this week is holding an investor seminar in Russia, has so far refrained from reacting to Peltz' comments.

At 0800 GMT, Danone shares were up 0.9 percent at 48.73 euros, among the top gainers on the Paris CAC-40 index.

(Reporting by Dominique Vidalon; Editing by Christian Plumb)