Brazil postpones planned tax hike on beverages; Ambev jumps
SAO PAULO May 13 (Reuters) - The Brazilian government is postponing a planned tax hike on cold drinks to avoid having an impact on inflation ahead of the soccer World Cup next month, Finance Minister Guido Mantega said on Tuesday.
The government will delay the implementation of a hike in levies on soft drinks, beer and other cold beverages for three months, Mantega said at a news conference in Brasilia.
Ambev, formally known as Cia de Bebidas das Americas SA , the country's largest beverage maker, erased losses following the decision. The stock jumped 1 percent to 16.85 reais in early afternoon trading in São Paulo.
Ambev is a subsidiary of Anheuser-Busch Inbev SA, the world's largest beer producer. (Reporting by Luciana Otoni; Writing by Guillermo Parra-Bernal; Editing by Jeffrey Benkoe)
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