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A worker checks bottles of Coca-Cola at a bottling plant in Kabul.
A worker checks bottles of Coca-Cola at a bottling plant in Kabul.
(AHMAD MASOOD/REUTERS)

Teachers to oppose Coke’s proposed employee equity distribution plan

The Ontario Teachers’ Pension Plan is opposing a new equity plan at Coca-Cola Co., saying it will vote against the company’s request for authorization to issue up to 500 million shares to employees in coming years.

The pension fund, which invests $141-billion of assets on behalf of Ontario’s teachers, said this week that it will not support Coca-Cola’s new equity grant request, which has been the subject of an opposition campaign launched last month by U.S. investment fund Wintergreen Advisers LLC.