Coke buys Groupe Danone SA bottled water business

Coca-Cola Co. announced the acquisition of Groupe Danone SA's 49% stake in the French company's North American bottled water joint venture, which includes full ownership of five U.S. spring-water bottling plants.  Additionally, it says it will increase ad spending for its lagging Evian brand by 20%.  A Morgan Stanley analyst criticizes Coke's three-tiered water strategy in the face of declining prices and market share.

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