UK: Peroni fears hit SABMiller shares
By 1030 GMT the stock was the biggest FTSE faller, down 3.7% at 426-1/2 pence.
SABMiller has always suffered from the fact that a large proportion of its earnings comes in Rand from its South African business, which it then reports in dollars.
Analysts said today that there were now added concerns that the company was over-paying for the Italian brewer Peroni, which SABMiller announced it was taking a controlling stake in yesterday. Critics suggest there are two few synergies between the companies to warrant the €246m price tag.
However, another analysts today called the fall in share price a "kneejerk" reaction.
SABMiller will be hoping to restore confidence when it reports its full year results Thursday next week.
Having recorded a third consecutive year of volume, margin and earnings growth, global brewing force, SAB Miller, was in a position to give shareholders a 27% dividend increase and eye the acquisition...
Rumours that SABMiller is poised to launch a bid for Empresarial Bavaria swept the trading floor yesterday (2 June)....
The Indian subsidiary of SABMiller, MBL Investments (Mysore), has acquired the Shaw Wallace Group's 50% interest in the brewing operations of SABMiller's Indian joint-venture....
The German-owned investment house, Deutsche Bank, has upgraded shares in the UK-based international brewing group, SABMiller, from "hold" to "buy", and raised its target for the shares from 830p to 95...
The CEO of SABMiller has hailed the brewer's full-year figures as "very pleasing" today (19 May)....
SABMiller has seen its share rating upgraded....
Fresh rumours surrounding a possible bid for Scottish & Newcastle saw the brewer's share price rise sharply yesterday (18 May) morning....
SABMiller has agreed to acquire the Slovakian brewer Topvar. Topvar is located in the city of Topoľčany in Western Slovakia and sold 569,000 hectolitres of beer in 2004....
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