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Stock impact report

Brazil Carnival's beer contracts probed for competition violations [Reuters (UK)]

Ambev S.A. American Depositary Shares (Each representing 1 Common Share) (ABEV) 
Last ambev s.a. american depositary shares (each representing 1 common share) earnings: 2/28 04:00 pm Check Earnings Report
Company Research Source: Reuters
Brazil Carnival's beer contracts probed for competition violations | Reuters 2 Min Read BRASILIA/SAO PAULO (Reuters) - Brazil’s annual Carnival street parties are being probed for awarding exclusive contracts to certain breweries, possibly limiting competition and driving up revelers’ beer tabs, newspaper O Estado de S.Paulo reported on Monday. A spokeswoman for anti-trust agency Cade confirmed the report that it is carrying out the investigation. A Finance Ministry report last year named Ambev SA, Latin America’s largest brewer, and Heineken NV’s Amstel among the companies that have made deals with city governments to supply beer at Carnival. The ministry said in November that the exclusivity agreements could hurt consumers by limiting competition and asked Cade to investigate further. Ambev did not immediately respond to request for comment about the antitrust probe. Heineken said in a statement that it repudiates “any practice that could violate the rules governing the right to fre Show less Read more
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