US: Coke share price threatened by activist
Coke is under attack again for its record in the developing world, this time from a Wall Street stockbroker who aims to half the value of the company's share price.
Max Keiser has styled himself as an investment activist and plans to set up a hedge fund to short-sell Coke.
He said that any profits he makes he will donate to people in countries Coca-Cola has exploited.
Keiser, 44, has teamed up with the London-based Ecologist magazine, run by the son of the late entrepreneur Sir James Goldsmith, Zak Goldsmith. Ecologist will decide where to distribute the profits.
Keiser claims Coke has caused environmental damage in India and abused human rights in Colombia. Coke has called the claims "blatant falsehoods".
Keiser plans to see a boycott of Coke products drive down Coke's share price. The hedge funds will then sell Coke shares with the aim of buying them back more cheaply later.
Sectors: Soft drinks
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