C&C Group circling potential merger cast-offs

C&C Group, which makes Magners cider and Tennent's lager, is reportedly interested in a number of beers that will be sold off by SABMiller and AB InBev if a merger between the two goes ahead.

The Irish-listed company has been keen to find ways to tackle sliding profits, which fell 12.6% in the first half.

A merger between the two brewing heavyweights, which must be announced by the extended deadline of Wednesday, would mean AB InBev would have to sell Bass and Boddingtons in order to satisfy competition requirements, City sources told the Sunday Times.

It is expected that each would be sold for around £30m.