Financial Daily from THE HINDU group of publications
Wednesday, Nov 27, 2002
Financial Daily from THE HINDU group of publications Wednesday, Nov 27, 2002 |
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Corporate
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Corporate Disputes Coke, Pepsi agree to end dispute Our Bureau
HYDERABAD, Nov. 26 COLA giants Coke and Pepsi have agreed to amicably settle their ongoing row over the loss of bottles. A decision to this effect was taken at a meeting of senior representatives of Hindustan Coca-Cola Beverages Pvt Ltd (HCCBPL) and Pepsi along with its franchisee bottler, Charminar Bottling Company Pvt Ltd on Tuesday. The two companies, according to a press release by Coca-Cola India, have entered into a memorandum of understanding wherein they have accepted to exchange the competitor's glass bottles lying with them. Both the companies will file joint petitions to police stations and courts, where cases were filed earlier, to withdraw all pending cases, stopping further actions and proceedings against each other. A revision petition filed by HCCBPL in the High Court of Andhra Pradesh has been withdrawn in the presence of the counsels of both the companies in view of the above settlement, the press release added.
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