Grupo Modelo shares rise on AB InBev purchase report
MEXICO CITY |
MEXICO CITY (Reuters) - Shares in Mexican brewer Grupo Modelo (GMODELOC.MX) shot up on reports that beer giant Anheuser-Busch InBev could announce a deal as soon as Friday to buy out the company.
Shares rose as much as 5.1 percent after Reuters reported Belgian-based Anheuser-Busch InBev (ABI.BR) was in advanced talks with family shareholders who control Modelo.
Modelo was trading up 3.57 percent at 117.390 pesos per share in afternoon trading.
(Reporting by Rachel Uranga)
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