The brand's involvement would be highly controversial among anti-capitalist activists, who plan to use Live 8 and the G8 summit in Edinburgh the following week as a campaigning platform.
Live 8 has been in contact with the soft-drinks giant to ask if it wanted to get involved in the event on 2 July, which will be attended by more than 150,000 people in London's Hyde Park alone.
Coca-Cola has admitted it has been approached to support the concerts, which will feature big-name music acts including Coldplay and Madonna, but said no decision had yet been taken.
A number of other brands are already involved in the event, including O2, which has run the ticket text lottery, and AOL, which has clinched the rights to broadcast all five concerts on the internet.
Virgin Trains has offered the free use of a train to Edinburgh for the G8 summit, which will be offered to employees of the Make Poverty History campaign and Live 8 before being opened up to the wider public.
A Live 8 spokesman confirmed that it was planning to announce a number of brand partners but declined to confirm their identities.
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