UPDATE 1-Public will decide whether Constellation brewery opens in Mexico, president says [Reuters]
Constellation Brands, Inc. (STZ)
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Source: Reuters
Public will decide whether Constellation brewery opens in Mexico, president says MEXICO CITY (Reuters) - Mexico’s president said on Tuesday his government would ask the public whether to let U.S. company Constellation Brands Inc ( STZ.N ) open a massive brewery in northern Mexico, brushing aside the suggestion that the American government might have reservations. The brewery in the border city of Mexicali worth more than $1 billion has been a bone of contention with local protest groups, which argue it will cause water shortages in one of Mexico’s driest regions. Constellation produces Corona and Modelo beers. Speaking at a regular government news conference, Lopez Obrador said a public “consultation” should be held, even though U.S. officials were opposed to the idea. “We were sent messages, even from the U.S. Embassy... that if the consultation happens, it’ll end badly for the country,” he said. The U.S. embassy in Mexico did not immediately respond to a request for comment. Lopez
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