CHINESE beverage giant Wahaha Group has rejected a new cooperation plan put forward by French food group Danone, saying the ongoing peace negotiation is hard to continue, Wahaha said on Sunday.

Danone proposed the two companies merge all their businesses to form a new company that will eventually be listed on the A-share market. Danone and Wahaha will each hold 40 percent of shares in the new company, leaving the remaining 20 percent as public shares.