Advertising watchdogs have dismissed Interbrew's complaints about an ad for a rival beer.
The Advertising Standards Authority ruled there was nothing wrong with an Anheuser-Busch ad for Michelob which poked fun at Interbrew's famous reassuringly expensive' advertising slogan.
The ad proclaimed Belgium is laughing at your expense', claiming that the on-trade price of Stella there was almost half the price in Britain.
Interbrew had complained that the ad "denigrated" its product and was misleading.