A-B Considering Accelerated Branch Activity

Dear Client:There are ill-winds blowing from Europe. In a shocking revelation from across the pond, London-based UBS beverage analyst Melissa Earlam (via Kaumil Gajrawala) writes in a note to investors early today that AB InBev may be looking into shipping beer "direct" through expanding company-owned branches, to retailers in certain markets in the United States, up to 50% of its volume. This revelation was delivered to UBS analysts and investors last week in Belgium by ABI chief Carlos Brito and