SABMiller had talks to buy brewer Modelo

Modelo, which brews Corona, is 50% owned by Budweiser maker Anheuser-Busch.

Anheuser is the subject of a £23 billion takeover bid from InBev, the company behind Stella Artois.

Anheuser may itself try to buy out the rest of Modelo, a deal that would cost it £5 billion say analysts. That would force InBev to up the price it is offering for Anheuser.

Sources close to SABMiller said talks were no longer active.