Harbin Brewery suspends share trading

Harbin Brewery suspended trading of its shares in response to regulatory concerns raised after its chief executive criticized SABMiller, which launched a hostile bid for the Chinese brewer. SABMiller's takeover bid was launched after Anheuser-Busch surprised it by acquiring a 29% share in Harbin. Harbin's chief executive told several Chinese and foreign media outlets that SABMiller had not fulfilled its promises to its Chinese partner and that he favored business ties with US-based Anheuser-Busch, the world's largest brewer. Hong Kong regulator the Securities and Futures Commission asked Harbin to suspend its shares after the comments were published.