Molson Coors has said that its interest in Foster's has not changed, following the Australian group's announcement that it will not sell off its wine business.

Molson chief financial officer Stewart Glendinning said this week that the brewer is happy to sit tight on its stake in Foster's.

"Our exposure there is manageable with the size of our balance sheet," he told an analysts conference in New York.

Molson revealed last November that it has accumulated a stake of around 5% in Foster's, via investment broker Deutsche Bank, fuelling speculation that Molson intended to make a move on Foster's beer business.

Analysts and industry observers believe the beer business would be vulnerable to a takeover should Foster's sell off its wine division, which has dragged down company profit in the last year. 

But, last month, following an internal review, Foster's said that it would hang on to its wine arm for now, although would "structurally separate" it from beer operations.

Molson CEO Peter Swinburn told analysts this week: "I don't think anything seismic has happened. We're pretty relaxed about the exposure we've got. The decision made by Foster's last month really hasn't altered anything at all."

He added that "acquisition is not the only way in to the market".

Last November, Swinburn said that Molson saw Australia's beer market as an "attractive opportunity".