PVR - no tieup with Starbucks

Pvr Limited has informed the Exchange vide its letter dated December 31, 2007 that "This has reference to the news item published today in the Business Standard about PVR Starbucks tie-up. In this connection we wish to clarify that the PVR has not entered into any agreement or tie up with Starbucks for retailing their products whereas PVR is only procuring one of Starbucks pre-packaged products i.e. flavored cold coffee from one of its importer/ distributor based in Mumbai for selling at our cinemas in Mumbai and Delhi. The journalist/ reporter who has met our Mr. Ranjan Singh has wrongly conceived our procurement and selling of Starbucks' products at our cinemas as our tie-up with Starbucks. We further wish to clarify that the products are not being imported from US as reported in the newspaper but are procured from a source based in India".