June 25 (Reuters) - Britvic ( BTVCF ) said on Tuesday it

would suspend its 75 million pound ($95.24 million) share

buyback in light of Danish brewer Carlsberg's

proposal to buy the British soft drinks maker.

Britvic ( BTVCF ) had rejected a 3.11 billion pound takeover proposal

from Carlsberg last week.

Carlsberg is considering its options and said on Monday that

PepsiCo ( PEP ) agreed to waive a clause in its bottling deal with

Britvic ( BTVCF ), in a move that could pave the way for the Danish firm

to raise its bid for the maker of Robinsons fruit cordial.

The company will evaluate recommencement of the share

repurchase programme should the circumstances change, it said.

Britvic ( BTVCF ) shares fell 1.5% by 0911 GMT.

($1 = 0.7875 pounds)