Mexico's competition watchdog orders beer market opening

MEXICO CITY, July 11 Thu Jul 11, 2013 10:38am EDT

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MEXICO CITY, July 11 (Reuters) - Mexico's competition watchdog COFECO said on Thursday that the country's top two beer companies would have to pare back the amount of exclusivity agreements they have with small stores or face sanctions.

Grupo Modelo and Cerveceria Cuauhtemoc Moctezuma could be fined up to 8 percent of their domestic revenues for failure to comply, COFECO said in a statement.

COFECO's decision comes after a complaint by rival SABMiller , and is aimed at ensuring more competition in the country's beer market.

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