Not so yummy proposition?

COMPANIES set to bid for Yum! China failed to submit their offers on time for a minority stake in the business, according to an article in Bloomberg. The cause of delay had to do with new investment terms imposed close to the bidding deadline.

Potential shareholders such as Temasek Holdings Pte in Singapore and Primavera Capital Ltd in China were reportedly turned off by the new terms including the fact that Yum! would not share with some of the Chinese business unit’s spending on advertisements.

Bloomberg also said that interested bidders disagree with Yum's! $10 billion valuation of the China business.

Yum! Brands based in Louisville, Kentuky operates the KFC, Pizza Hut and Taco Bell brands. Its offer to sell stakes in Yum! China would make this business unit separate, publicly traded company that acts as a master franchisee of KFC and Pizza Hut in Mainland China.