United Spirits jumps on media report over Diageo talks

Shares in Spirits rose as much as 3.3 per cent to its highest since January 2011, after a national TV news channel, reported top officials at the Indian liquor maker were expected to meet Diageo on Thursday to continue discussing a potential stake sale, citing unidentified sources.

United Spirits has been in talks to sell a stake to the world's biggest spirits group but the outcome has been in doubt after Vijay Mallya, who controls the liquor company, told Reuters on October 27 he had not reached a deal with Diageo.

United Spirits declined to comment when contacted by Reuters. Diageo officials were not immediately reachable.

United Spirits shares are known for their volatility, reacting often to the speculations about speculated developments from its talks with Diageo.

United Spirits shares were up 2.6 per cent as of 11:22 a.m.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • For those who are left to survive a war-torn world, let there be peace

    The hunger games have begun, and they have started reaping our children. There is no way around it.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Shifting sands in the Far East

As was to be expected, Japanese prime minister Shinzo Abe ...

Zehra Naqvi

When humanity died, bestiality prevailed

The terrorist attack that killed 132 children in Peshawar has ...

Bubbles Sabharwal

Why self-esteem must be your best friend forever

Two negatives do make a positive! Imagine no doubts, no ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture