GREECE: Coca-Cola Hellenic reviews stock market listings
Coca-Cola Hellenic is reviewing its stock market listings
Coca-Cola Hellenic has confirmed it is reviewing its stock market listings, following reports that the bottler is eyeing a listing in London.
The group, the world's second largest bottler of Coca-Cola products, said in a statement today (17 September) that it is "seeking to better leverage its stock exchange listings". It added: "This continues to be work in progress. No specific approach has been selected."
The statement came after Sky News reported on Saturday that the group is considering switching its main listing from Athens to the London Stock Exchange, which would take it straight into the blue-chip FTSE100. It also has a listing on the New York Stock Exchange.
A note from investment bank Jefferies, quoted by Sky, said: "The obvious concern with a Greek listing is the risk that Greece exits the Euro and investors are left holding shares in a new (presumably seriously devalued) currency rather than Euros."
The Athens-based group, which operates in 28 countries, already has an inactive listing in London from when the group was formed in 2000 via the merger of Hellenic Bottling Company and London-based Coca-Cola Beverages.
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