SABMiller has declined to comment on reports that it has held talks with Mexico's Grupo Modelo to consider a merger between the two brewers.

A report by Reuters yesterday (24 June) cited sources familiar with the situation as saying that the two companies have met to discuss options available to them in light of the latest wave of brewer consolidation.

Modelo, which is 50%-owned by Anheuser-Busch, is thought to be a takeover target of the US brewer's, which itself is the subject of a US$46.3bn bid by InBev. Late last week, Modelo's CEO, Carlos Fernandez, stepped down from his position on A-B's board. The move suggested Modelo was unhappy at being used as a poison pill in the consolidation battle.

Discussions between SABMiller and Modelo included the possibility of SABMiller acquiring part or all of Modelo, in the event that InBev succeeds in its takeover of A-B, Reuters cited the sources as saying.

When contacted by just-drinks, however, a spokesperson for SABMiller would not be drawn on the report.