State-owned China Foods Ltd is considering a sale of its stakes in Coca-Cola bottling factories, a move that would reshape its near duopoly on the mainland with Swire Pacific Ltd since the beverage giant began to refranchise its bottling operations.

China Foods is considering selling stakes in 10 Coca-Cola bottling companies in the country through a public tender, it said in a Hong Kong Stock Exchange filing on Tuesday.

The company will sell stakes varying from 7.15 percent to 100 percent through the China Beijing Equity Exchange.