However analysts had warned, since news of the placement, that a share issue – on the heels of the merger between London-listed South African Breweries (SAB) and Miller Brewing would put pressure on the shares in the short term.
COMMENT: False start for SABMiller
By dropping plans to raise somewhere in the region of £600m from a share placement, the newly formed SABMiller has raised concerns that it will be unable to fund further acquisitions and drive inter-country synergies from the Miller acquisition.
July 11, 2002