Latinnews Daily - 9 March 2004

The R$ 32.2bn (US$ 11.1bn) merger of the Brazilian brewer Ambev with the Belgian Interbrew last week is causing turmoil in the Brazilian stock market. Although the deal is being made through the exchange of shares between the two companies, it involves the exchange of ordinary shares, with voting rights. Yesterday, 8 March, Ambev's preferred shares fell for a fifth session. Since the announcement of the deal last week, this category of shares has lost a quarter of their value.