PepsiCo agrees to waive bottling clause as Carlsberg pursues Britvic

Carlsberg confirmed on Monday that PepsiCo has agreed to waive the change of control clause in the bottling arrangements it has with Britvic, removing a potential challenge for the Danish brewer looking to buy the UK drinks company.

Responding to press speculation over the weekend, Carlsberg said: "This waiver will come into effect should an acquisition of Britvic by Carlsberg, which has the recommendation of Britvic's board, proceed to completion."

Carlsberg said it was considering its position. "There can be no certainty that any offer will be made," it added.

Britvic shares surged on Friday after it confirmed it had rejected a £3.1bn takeover proposal from Carlsberg.

At 0825 BST, Britvic shares were up 7% at 1,171p.