Following speculation that Interbrew, the Belgian brewing force, is about to launch a bid to acquire a 40% stake in the Italian brewer, Peroni, company’s shares have fallen.

Interbrew's shares fell by 2.9% to a record low of ˆ16.50. Although the move is viewed by analysts to make sense strategically, investors are thought to be concerned that Interbrew will pay too much for the stake. This is partly because Interbrew is not the only major brewer known to be interested in Peroni. Carlsberg is thought to be considering a bid while Scottish & Newcastle is also known to have been eyeing Peroni for some time.

12 February, 2003