Cadbury Schweppes is considering selling its struggling European soft drinks arm, which includes Orangina and Oasis, for up to £1.5bn. It originally agreed to sell it to Coca-Cola six years ago but the deal was blocked by anti-trust authorities. Among the new suitors is a US private equity firm, the Carlyle Group, and PepsiCo could put in a bid. But The Business claims that selling the European drinks business would be a terrible strategic mistake, making investors wonder what the company is about. The Business 28/08/05 page 9

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