SAB Miller won't bid for Anheuser: CEO in paper

FRANKFURT (Reuters) - SAB Miller (SAB.L), currently the world's largest brewer by volume, will not be dragged into a bidding war with its slightly smaller rival InBev INTB.BR over its $46.3 billion offer for U.S. rival Anheuser-Busch (BUD.N).

"One has to ask himself how they (InBev) want to achieve such high savings without damaging the company," SAB Miller Chief Executive Graham Mackay told German business daily Handelsblatt in comments to be published on Monday.

Since beer is for the most part a local product, there are hardly any trans-border synergies for a Belgian company like InBev.

Mackay said he believes his own company would stand to benefit should the deal go through, since he expects Anheuser-Busch would be weakened by the takeover.

He added SAB Miller would look into possible external growth in the German market.

"If the opportunity to acquire a larger German brand were to present itself, then we would take a look at it," he said.

(Reporting by Christiaan Hetzner)