Coca-Cola's (KO) Europe business was one of the unidentified targets of European Union antitrust raids earlier this month, Bloomberg reported Wednesday, citing people familiar with the matter.

The European Commission said on March 10th it was inspecting the premises of companies in the non-alcoholic drinks sector amid concerns the firms may have violated competition law by carving up parts of the EU market.

The sources did not specify if Coca-Cola's main business or its bottling partners were under inspection. The company and its bottling partners did not respond to Bloomberg's requests for comment, while the Commission declined to comment.

Coca-Cola, Coca-Cola Europacific Partners Plc, and Coca-Cola HBC didn't immediately respond to comment requests from MT Newswires. The Commission told MT Newswires it had no comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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