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China insists on principle of market economy on Huiyuan takeover

(Xinhua)
Updated: 2008-09-10 20:52

Public opinion has gone against Huiyuan founder and president Zhu Xinli of late, with many saying Coca-Cola was controlling him.

Some said Zhu behaved differently from before on the case as he had said, "I didn't sell Huiyuan when I was in trouble in 2004. I'll sell it now because they offer a good price."

Coca-Cola denied the blame, saying Zhu's words had not been influenced by the company at all.

"President Zhu is an experienced entrepreneur. My company respects him a lot. What he said was decided by himself," Li said.

Despite the hurdles, Li confirmed three major shareholders who held more than 60 percent of Huiyuan stock, including Huiyuan, Danone and US private equity firm Warburg Pincus, had approved the international marriage.

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