SABMiller, the giant brewing company, has lost the import and distribution licence for Corona Extra in Australia.
Corona's owner, Grupo Modelo, has withdrawn the concession following SAB's £6.5bn takeover of the original licensee, Foster's, in December 2011.
Sales volumes of Corona Extra in 2011 were approximately 3%, or 600,000 hectolitres, of a total Australian market of some 18m hectolitres.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
SAB shares have gained 16% since the Foster's deal was given final approval by Australian regulators on Dec 2.
Should your business invest in a VoIP phone service?
Here's what you need to know about VOIP (voice over IP) services before landlines go digital in 2025.
By David Prosser Published
M&S is back in fashion: but how long can this success last?
M&S has exceeded expectations in the past few years, but can it keep up the momentum?
By Rupert Hargreaves Published