(Reuters) - Carlsberg said on Monday PepsiCo has agreed to waive a change of control clause in its bottling arrangements with Britvic ( BTVCF ), potentially removing a hurdle from the Danish brewer's path to bid for the British company.

The move could pave the way for Carlsberg to raise its bid for British soft drinks maker Britvic ( BTVCF ), which has rejected two approaches from the Danish firm.

"This waiver will come into effect should an acquisition of Britvic ( BTVCF ) by Carlsberg, which has the recommendation of Britvic's ( BTVCF ) board, proceed to completion," Carlsberg, which bottles Pepsi drinks in some markets, said.

Carlsberg is still considering its position and said in a statement there can be no certainty that any offer will be made.

Britvic ( BTVCF ) in 2020 signed a 20-year franchise bottling agreement for PepsiCo ( PEP ) drinks such as Pepsi, 7UP and Mountain Dew, in Britain.

A change in control clause is a contractual provision which gives a party to an agreement enhanced protection if the controlling shareholding of the other party is transferred.