Mexican brewer Modelo cools after rally
MEXICO CITY (Reuters) - Shares of Grupo Modelo slipped 1.51 percent on Friday morning after a rally the previous session on giant Belgian brewer InBev's INTB.BR $46.3 billion bid for U.S. brewer Anheuser-Busch Cos Inc (BUD.N: Quote, Profile, Research), which owns 50 percent of the Mexican brewer.
Modelo (GMODELOC.MX: Quote, Profile, Research), maker of Corona beer, lost 0.84 pesos to 54.81 pesos amid scattered trades and wafer-thin volume of just over 207,000 shares.
On Thursday, the Mexican brewer's shares rose 8 percent on InBev's news and by the end of the session more than 8 million of its shares had changed hands.
According to the Wall Street Journal, Anheuser-Busch has had preliminary talks with Modelo about a possible tie-up that could thwart the unsolicited takeover bid by InBev.
(Reporting by Cyntia Barrera Diaz, editing by Phil Berlowitz)
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