PepsiCo is catching up Coca-Cola as the most valuable soft drinks company on Wall Street. At close of trade on Friday, Coke was valued at $98.8bn (£56.3bn) with Pepsi just behind at £97.8bn (£55.8bn). PepsiCo shares have risen 14% this year thanks mainly to its food operations, while Coca-Cola's only went up 2%. Coke is still the world's top-selling drink with annual sales of $22bn compared to only $7bn for Pepsi. But sales are expected to drop next year as people move to diet drinks, water, sports and niche drinks. That will hand the initiative to the Pepsi Generation. The Mail on Sunday 11/12/05 (Financial Mail) page 3

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