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Mallya drops plan to buy Taittinger

BANGALORE: Vijay Mallya has walked out of the race to buy French champagne Group Taittinger as wine professionals in Northern France attacked the estimated $660 million (Euro 515 million) take-over bid mounted by United Breweries. A local bidder raised his offer price 15-20 per cent higher than what Mr. Mallya had offered. "We have dropped the plan to buy Taittinger. We are not pursuing the bid anymore,'' a UB Group official told The Hindu.

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