INDIA: Coca-Cola linked with appeal to Prime Minister
Coca-Cola has to sell off up to 49% in its Indian susidiary, currently 100%-owned, to Indian investors. It currently has a month's reprieve and therefore must sell off the shares by August 17.
Coca-Cola India did not comment on the press speculation regarding Prime Ministerial involvement. In its most recent application, the company is believed to have cited past precedents where the divestment clause was either waived or amended.
Coca-Cola had already made several attempts to obtain a complete waiver or a five-year moratorium until 2007.
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