Coke to stay on Wall Street

Coca Cola Enterprises (CCE) will remain listed on Wall Street although it could one day take a secondary listing on the London Stock Exchange (LSE), an insider has told City AM. The news comes as the board of CCE, which bottles and distributes the soft drink, votes on whether to sell its North American distribution business to Coca-Cola on 1 October in a deal valued at £9.5bn. The deal had prompted speculation that CCE, which employs around 4,500 people in the UK, might move to the LSE. The source said a listing in London “would only be something that would happen in the long term and it would only ever be a secondary listing. CCE would maintain its primary listing on the New York Stock Exchange and would remain listed in dollars.”