China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
S&N considers BBH sale to thwart bid approach: report
LONDON (Reuters) - British brewer Scottish and Newcastle (S&N) SCTN.L considers selling its Finnish holding company to block a potential joint bid from Carlsberg (CARLb.CO) and Heineken (HEIN.AS), a Sunday paper said.
Denmark's Carlsberg and Amsterdam-based Heineken announced their joint approach for the Edinburgh-based brewer last week, with Carlsberg intending to buy S&N's interest in Russia-based brewer Baltic Beverages Holding (BBH), France and Greece.
The Sunday Times said in an unsourced report that S&N is considering selling off its Finnish holding company Hartwall, which holds the group's 50 percent interest in BBH joint venture with Carlsberg.
BBH is seen as the jewel in S&N's crown as it controls over 85 percent of Baltika (PKBA.MM) the biggest brewer in the world's third largest beer market, Russia, and provides around one third of S&N and Carlsberg's group earnings.
Meanwhile, The Sunday Telegraph said in an unsourced report that S&N is considering all its defense options and looking to bring in a strategic partner, with SABMiller (SAB.L) and Anheuser-Busch (BUD.N) believed to have made contact with S&N to fend off the bid approach.
S&N was not immediately available for comment.
