Belgium's Interbrew is not likely to try to buy Brazilian peer AmBev as had been recently speculated as it had neither the money nor the interest to do it, analysts said on January 26, according to Reuters. Nor would its majority shareholders be willing to give up control of the world's fourth biggest brewer behind the Stella Artois brand as a result of a deal, they said. "It seems quite unlikely," said Andrew Holland at ABN AMRO.

Speculation on a deal sent shares in AmBev, the world's fifth-largest brewer, more than seven percent higher last Friday after a Brazilian daily reported of talks between it and Interbrew. On January 26, its stock was 0.73 % higher at 763.50 reais.

Interbrew's stock has barely budged in the last two sessions, closing virtually flat at 21.69 euros on Monday.

AmBev and Interbrew declined to comment on the report.

It is the second time this month that Interbrew has been the subject of merger rumours in Latin America.

In early January, a Peruvian daily said it was in talks to buy Bavaria but the Colombian brewer later denied it.

27 January, 2004