Beer giants SABMiller and Budweiser brewer Anheuser-Busch InBev have 'agreed in principle' on a £68bn blockbuster tie-up to create the world's biggest drinks firm.

Anheuser-Busch InBev’s chief executive says a study of SABMiller’s African beer markets and talks with top shareholders led to an “alignment of stars” that drew it to its nearest rival.

A group of German beer brewers have been fined €106.5m for illegal price-setting agreements.