US bank Morgan Stanley has become the largest shareholder in Pernod Ricard, according to local reports.

French daily Les Echos said yesterday (26 November) that, over the last two months, the bank has upped its stake in the company on behalf of its clients to 6.5% for over EUR1bn (US$1.48bn) at an average price of EUR155 per share.

The Ricard family remains the group's leading shareholder, holding a 10.7% stake.