MEXICO: Femsa denies plans to sell beer operations

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Mexican drinks group, Fomento Economico Mexicano (Femsa), has denied that it is planning to sell off its brewing subsidiary, which produces the Tecate and Dos Equis beer brands.

Femsa said reports that it was looking to sell off its beer operations in order to focus on its soft drink bottling activities were "totally false".

However, analysts have said a takeover bid by an international beer group for Femsa's beer division, which has been losing market share to market leader, Modelo, is not unlikely, especially since the announcement in December that Coca-Cola Femsa, 51%-owned by Femsa, is planning to buy Panamerican Beverages Inc. for $2.7 billion plus debt, in a bid to expand its soft drinks activities.

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