Drinks giant Diageo will maintain equity in its fast-food chain Burger King if Texas Pacific, the chain's purchaser, fails to achieve the sale price, the Sunday Times reported yesterday.

Last week Diageo issued a statement warning that revenues from Burger King had deteriorated in the past three months, which has prompted fears that Texas Pacific may be unable to convince backers to put up the full £1.45 billion Diageo is asking for.

Although Diageo CEO Paul Walsh has said there have been no new price negotiations, the Sunda Times reported that Walsh is thought to be amenable to taking equity if Texas finds it difficult to raise funds.