What the Sunday papers said

Scottish & Newcastle (S&N) has come under fire from Russian investors - and even President Putin - over what are claimed to be its "unethical" business tactics. S&N controls its Russian interests through a 50:50 joint venture with Carlsberg called BBH, which owns majority stakes in five Russian breweries, and plans to consolidate its holdings in Russia. Under the plan the largest company in the BBH portfolio, Baltika, in which BBH owns a 74.5 per cent stake, is to buy the other breweries, but local investors feel BBH is overpaying for these, to the benfit of S&N shareholders. S&N chief executive Tony Froggatt denies any impropriety, but admits the group may have been a "little too hasty" in its Russian expansion plans. - Sunday Times​

Last week's SABMiller/Bavaria deal was greeted with near-elation by the City, a rare reaction given the share issue backing to the $7.8bn deal and the vagaries of the market, Latin America, in which Bavaria traditionally operates. SABMiller has a good reputation for integrating acquisitions however, and growth potential for the new company makes the shares a long-term buy. - Sunday Telegraph​

Such was the positive response from brokers that more than $1bn was added to SABMiller's market value last week in the wake of the deal to acquire Latin American brewer Bavaria. While the savings will be modest - and will take five years to hit SABMiller's bottom line - the deal gives the UK-listed group a base for expansion into a number of South American markets. - The Business​

The Santo Domingo dynasty, which is behind Colombian-based Empresarial Bavaria, has become the wealthiest family on the London stock market following SABMiller's acqusition of their business. The 15.1 per cent stake they own in SABMiller, which resulted from the deal, is currently worth around £2.2bn. - Sunday Times​

A row is breaking out amongst London celebrities and residents who live near The Grapes pub in the Limehouse district of the capital. The pub, immortalised in Charles Dickens' Our Mutual Friend, has applied for a 2am extention. Some neighbours, like Lord Of The Rings actor Sir Ian McKellen, support the move, but other residents believe it will lead to more under-aged drinking and criminal activity in the area. - Sunday Telegraph​

And finally...

Pepsico's interest in French food giant Danone has caused outrage in France. With a possible £21bn bid looming, calls have come from as high up the political ladder as Prime Minister Dominique de Villepin to defend the yoghurt maker - which M. de Villepin calls "a flower of our industry". Cynics point to the hypocrisy which sees this kind of border raid slammed, while French companies are lauded for pursuing international targets, such as Pernod Ricard's acquisition of Allied Domecq. - Sunday Telegraph​