Egg on their face
The powers that be came down on Interbrew like a ton of bricks when at the beginning of January the UK Secretary of State for Trade and Industry, Stephen Byers, decided to block the Interbrew/Bass deal. Arguing that last year’s £2.3 billion take-over would operate against the public interest, i.e. create an unacceptable level of concentration at both production and distribution levels, Byers has ordered Interbrew to sell Bass Brewers to a buyer approved by the Director General of Fair Trading (DGFT).
“The Competition Commission found that the merger would strengthen Interbrew’s market position which would own four of the top ten selling beer brand,” Byer’s statement read. Interbrew was given six months to abide by the British regulators’ decision.5 billion of its £2.3 billion outlay..
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