Budweiser brewer gets regulatory backing in China for SABMiller takeover

Budweiser brewer Anheuser-Busch InBev has cleared another major hurdle in its pursuit of SABMiller after winning regulatory backing in China.

The takeover approach was given the green light by China's Ministry of Commerce after the Belgian brewer agreed to sell SABMiller's 49% stake in China Resources Snow Breweries to China Resources Beer.