Coca-Cola European Partners CCEPC.L is in advanced talks to acquire Australia's Coca-Cola Amatil CCL.AX, Bloomberg News reported on Saturday.
The details of the deal which has not yet been finalised could be announced within few days, Bloomberg reported, citing people familiar with the matter.
A deal would be the largest involving an Australian company this year, Bloomberg said.
US-based Coca-Cola Co KO.N owns a 19.11% stake in Coca-Cola European Partners, the world's largest independent bottler of Coca-Cola, Refinitiv Eikon data shows.
Shares in bottler Coca-Cola Amatil were halted on Thursday pending an announcement on a "potential material transaction".
Neither company could be reached for comment outside business hours.