Danone Involved In Chinese Bribery Claim

A brand owned by French company Danone, (DANO) has been accused of being involved in a bribery scandal in China.

Dumex is accused of having paid doctors and nurses in the northern city of Tianjin to promote its baby formula products, China Central Television reported.

But these claims were quickly denied by a Dumex spokeswoman, who stated that the firm was "extremely shocked" by the allegations.

She added: "Dumex Baby Food Co strictly adheres to Chinese laws and regulations."

The Chinese government is currently cracking down on corruption within the healthcare sector.

It is claimed that Danone's Dumex brand paid hospital staff "sponsorship fees" or payments of up to 10,000 yuan (£1,027).

However, the share price of Danone appears to be unaffected by these claims today (September 17th), with stocks in the firm increasing in value.

At 15:34 BST, its shares were selling 0.64 per cent higher than at the start of the day.

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