CCH move on the cards?

Kathimerini English - - Business & Finance -

Greek gov­ern­ment plans to slap a tax on soft drinks have drawn the ire of Coca-Cola Hel­lenic (CCH), the world’s sec­ond-largest Coke bot­tler, which may re­spond by mov­ing its head­quar­ters out of Athens, ac­cord­ing to lo­cal press re­ports. The new levy has not been for­mally an­nounced but gov­ern­ment sources say it is likely to be in­cluded among the next batch of aus­ter­ity mea­sures to be an­nounced in the com­ing days aimed at help­ing the coun­try tackle its fis­cal prob­lems. CCH has been lob­by­ing gov­ern­ment of­fi­cials not to go ahead with the new tax, press re­ports say, ar­gu­ing that it will lead to lower de­mand and rev­enues, which will in turn weigh on in­vest­ments and re­sult in job cuts. Con­tacted by Kathimerini English Edi­tion, a CCH of­fi­cial would not com­ment on talk of a shift out of Greece, adding that the com­pany is stick­ing to pre­vi­ous com­ments reit­er­at­ing its com­mit­ment to the coun­try. CCH is the largest com­pany listed on the Athens bourse, val­ued at 6.2 bil­lion eu­ros, and op­er­ates in 28 coun­tries.

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