Heineken is in advanced talks to buy Punch Taverns for £386m (€460m), competing with one of the chain’s founders to expand its network of British taverns.

Anheuser-Busch InBev, the world’s largest brewer, intends to sell the Eastern European brewing assets of SABMiller to secure regulatory approval for its $100 billion (€88.2bn) takeover of its rival.

Anheuser-Busch has approached rival SABMiller about a takeover that would form a brewing colossus which makes around a third of the beer consumed globally.

Drinks giant Britvic today posted an 11% hike in sales for the 12 weeks to December 20 but said market conditions in Ireland remained "challenging".

Bulmers maker C&C saw shares slump 9% today after the drinks company admitted it got its figures wrong in an upbeat trading statement last week.