What has been the progress of integrating Tetley with Tata Tea?
We are not going through something that will culminate in the merger of the companies. We are really trying to create an organisation that works seamlessly. Now we are finding that some departments are already working seamlessly and, therefore, we are making progress along the right path. The process is divided into two parts. Project teams — which are located on project-related activities — where we say, here is a new geography, can we put a team together from both companies to research a new geography? And some are process-related. These think in terms of IT, common process of finance systems, common process in product development. It’s a mixture of two things and there are varying degrees of progress in each of these teams. What is the status of the UK subsidiary, Tata GB? It’s an SPV (special purpose vehicle). It’s still very much there. Our holding, if you take the entire Tata stake, is œ100 million. œ70 million was the original contribution to equity and œ30 million was put in la
