According to reports in Germany, the German banking group, HVB Group, is holding negotiations with both Scottish & Newcastle (S&N) and Interbrew regarding the sale of its 55% stake in the German brewer, Brau und Brunnen.

However, a source told Dow Jones Newswires that while the brewer may eventually sell its stake in Brau und Brunnen, it had no concrete and immediate plans to do so at the moment.

Despite Brau und Brunnen pouring cold water on the speculation, it was reported that HVB's CEO, Dieter Rampl, had said on Thursday that all of the bank's units and holdings are under review for possible sale.

Brau und Brunnen spokesman, Udo Dewies, referred to the reports as rumour, adding that the brewer would have a say in who might eventually buy the stake. "If HVB were to be in talks to sell, then our CEO would certainly be on board," he said.

Brau und Brunnen has around a 7% share of the German beer market. The company's shares have risen by as much as 20% over the past few days.