May 20, 2019 / 12:50 PM / a month ago

BUZZ-Coca Cola HBC: Down after Coca Cola drops plans to refranchise Africa bottling

** Bottling company Coca Cola HBC AG’s shares down 7.3 pct at 2,651 pence - biggest loser on the FTSE blue chip index, on track for worst day since Feb

** Coca-Cola Co dropped plans to refranchise its Africa bottling business CCBA

** KO to keep its majority stake in the unit for the time being

** KO was looking to refranchise Africa bottling unit, CCH and rival Coca-Cola European Partners were seen as potential buyers

** “Expect some initial disappointment from investors that CCBA appears off the table for now”- Jefferies

** KO is the second largest shareholder in CCH (Reporting by Sangameswaran S in Bengaluru)

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