Coca-Cola is looking to launch a new drink which could see it square up to PepsiCo over the name. Coke is mulling launching 'Ipsei' in the UK.

The beverage, a mixture of water, grape juice, vitamins and herbal tea, was launched by the company in Holland and Germany last year. Ipsei will carry the strapline "Think what you drink."

Pepsi claims the name of the new brand sounds too much like its own, and may take legal action to have it changed.

The name Ipsei is suppsed to be a derivative of the Latin word 'ipse,' meaning self.