The Mexican government said on Monday that local residents voted by about 76% to reject the completion of a more than $1 billion brewery under construction by Constellation Brands Inc , a development likely to further shake investor confidence. President Andres Manuel Lopez Obrador backed the weekend vote in the northern city of Mexicali, as he has in other high-profile projects including a partially built airport, as an exercise in local control. Constellation’s shares tumbled 12% on Monday to close just above $105, down from a previous high of $208 on Feb. 20. …read more
Source:: Yahoo Finance
