Mexican drinks group Femsa’s recent acquisition of soft drinks maker Panamco has raised speculation that the group would sell its brewery to finance the take-over. ”Such speculation was completely inaccurate,” said Chief Executive Jose Antonio Fernandez in a statement to the Wall Street Journal. "We definitely are not selling the brewery," Mr. Fernandez said in an interview. "We have ratified that with the board three times." “One reason for keeping the brewery, which boasts brands such as Tecate and Dos Equis, would be that the Mexican beer market is very lucrative,” Mr. Fernandez said.

14 May, 2003