UK brewer sets out cost reduction plan

Takeover target Scottish & Newcastle unveiled plans for a leaner business today as the brewer wards off an unwanted £7.3bn (€10.2bn) approach from European rivals Carlsberg and Heineken.

The Foster’s and Kronenbourg 1664 maker announced proposals to save £20m (€27.9m) in the UK, and the sale of its loss-making French wholesale business.