The LU biscuits division of French food group Danone is due to meet trade union representatives on Tuesday to discuss possible changes at LU, a trade union source said, amid rumors the unit might be sold.
I have been called to a meeting on Tuesday morning at 0930 (0730 GMT), the source, who declined to be named, said on Sunday.
The source added that LU management had informed trade unions that the meeting would be to discuss changes within the biscuit division.
The meeting comes amid market speculation and press reports that Danone might sell LU, with U.S. company Kraft Foods seen as a likely buyer.
The Financial Times reported on its Website that Kraft, the maker of Oreo cookies and Ritz crackers, was understood to be in talks to buy the biscuit and cereal products division of Danone. However, the paper said it was not clear on Sunday whether the talks would result in a final sale agreement being signed, nor at what price.
Monday's edition of French newspaper Les Echos said there was speculation that Danone had already begun talks with Kraft over the sale of LU.
Last week, French magazine Challenges said LU could be sold for 3.5 billion euros ($4.71 billion). Along with Kraft Foods, Challenges said U.S. food group Kellogg might also be interested in the biscuit company.
Officials at Danone and Kraft could not be immediately reached to comment on the matter on Sunday.
Danone shares closed up 2.2 percent at 60.02 euros on Friday while Kraft shares closed down 0.3 percent at $35.25.
(Additional reporting by Megan Davies in New York)