The biggest soda manufacturer of the world, Coca-Cola Co., is reportedly in talks to purchase the North American operations of bottler Coca-Cola Enterprises Inc., in a deal which will cost the company about $15 Billion, which would include debt as well.

Sources have speculated that the sides might either be reaching a proper agreement over the coming days, or the talks might just fall apart. Under the terms of the deal, Coca-Cola would sell bottling operations across Scandinavia and Germany to Coca-Cola Enterprises, its largest bottler.

The speculated purchase would follow a similar development which was undertaken by PepsiCo. to bring its bottling operations in-house, with both the companies trying to turn the US market around, where sales volume of soft drinks has steadily declined since 2005.

"We expect that Coca-Cola Enterprises will not grow revenue significantly", Sachin Shah, a special situations and merger arbitrage strategist at Capstone Global Markets LLC in New York.

No comments on the development have been shared by either of the parties involved.