Brazil: Brazilian brewer AmBev said on May 25 it was launching a 500 million real ($157 million) stock buyback program to purchase up to 8.94 percent of its preferred shares in circulation.

Companhia de Bebidas das Americas, the world's No.5 brewer which is in the process of merging with Belgium's Interbrew, said the buyback program would be open for 365 days.

AmBev stock was 2.5 percent higher at 537 reais in early trade in Brazil. The country's benchmark Bovespa was 0.2 percent in the black at the time. ($1 = 3.18 reais)

26 May, 2004