Cadbury Schweppes has silenced rumours it may sell its Australian and New Zealand drinks business, according to reports.

A spokesperson for the company told Dow Jones yesterday (9 January) that media reports about a sale of the unit were simply speculation adding: "We don't have any plans to sell it."

Last year, Cadbury Schweppes Americas Beverages (CSAB) announced plans to demerge its confectionery and drinks operations, leading to suggestions that it may be looking to sell its Australian and New Zealand beverages unit.