Fosters' shares jump 5 percent on bid speculation

Fosters' shares jump 5 percent on bid speculation

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MELBOURNE (Global Markets) - Shares in Australia's Foster's Group Ltd (FGL.AX) rose 5.1 percent in opening trade on Friday after a source said Molson Coors Brewing Co (TAP.N) and Mexico's Grupo Modelo SAB (GMODELOC.MX) were exploring a joint bid.

The shares were up A$0.22 at A$4.50. Foster's separated its beer group from wine earlier this month.

(Reporting by Victoria Thieberger)