Tata Tea Ltd of India is reported to be preparing a billion-dollar acquisition within the next six months. Mr R.K. Krishna Kumar, vice-chairman, said the acquisition would be carried out jointly by Tata Tea and Tetley, and that it would be several times bigger than that of Tetley, which was acquired in 2000 at $475 million (£271 million).
He would not be drawn on the prospect of Twinings as a target.
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