Carlsberg Breweries, has emerged as another possible player in the race to gain a share of the Indian beer maker Shaw Wallace, according to local press reports.

The Hindu Business Line today said that Carlsberg was in touch with Shaw Wallace management, concerning the Indian company's plans to sell around a 26% stake of its equity.

The deal it is hoped will leverage access to overseas markets for Shaw Wallace products and at the same time allow an international brewer to attack the Indian market through Shaw Wallace's extensive distribution network in the country. Shaw Wallace has around a quarter of the domestic beer market.

Despite the news of Carlsberg's entry into negotiations, Heineken and South African Breweries remain the favourites to win the race. Interbrew's name is also on the list of potential suitors.