June 24 (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.