INDIA: Diageo quiet on United Spirits rumours
Diageo has refused to be drawn on whether or not it is eyeing a stake in the Indian spirits giant United Spirits.
"We don't comment on market speculation," a spokesperson from Diageo told just-drinks today.
Despite a denial by United Spirits that it was in discussions, the Economic Times went on to say that a transaction is expected around February or March 2008.
United Spirits would not cede any management control as a result of the deal, the report added, citing unnamed sources.
United Spirits, a part of the UB group, in May acquired Scottish spirits maker Whyte & Mackay for $1.2 billion.
Diageo has today (9 May) announced it is to invest EUR650m (US$1bn) in its brewery infrastructure in Ireland, including the building of what will be its largest brewery, however, the company also said...
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