Actually, the cola
in question might be Coca-Cola
. One of their slogans was "Coke
There have also been similar stories about Pepsi's slogan "Come Alive! You're in the Pepsi Generation!" (or, in some cases, "Come Alive with Pepsi") being mistranslated in Thailand, South Korea, and various other countries.
Given the variety of languages alleged to have been involved, and the general confusion over which slogan and even which brand of cola, I'm inclined to regard the whole thing as an urban legend. You'd think the entire industry would have learned a lesson from the bite the wax tadpole problem from the 1920s.