The world's top brewer Anheuser-Busch InBev, maker of Budweiser, Beck's and Stella Artois, said it is in "discussions" with Mexico's Grupo Modelo, the maker of Corona.
"There have been discussions between the company and Grupo Modelo regarding a possible transaction to expand its current relationship," AB InBev said.
This follows US media reports which said that the company was set to take control of the Mexican firm in a $12-billion deal.
"These discussions may or may not lead to a transaction and any speculation on terms and conditions is therefore premature," the statement added.
The company underlined a "long history of partnership" between the two companies and a "great admiration for the Modelo business and its brands."
