Part 3
Questions 21-30
The fizzy drink of choice at PepsiCo on December 12 was more likely to have been champagne than
cola. By the end of trading on Wall Street that day, the company's market capitalisation reached
$98.4bn - while the market valued rival Coca-Cola at $97.9bn. For the first time in the history of
the two companies, PepsiCo was valued more highly than its old arch enemy. (Q26) It was
chiefly a symbolic shift, but what a symbol - and one that persisted over ensuing days. The "real
thing" is suddenly second-best.
The battle for supremacy between Coca-Cola and PepsiCo is one of the great rivalries in business.
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