Pernod Ricard has quelled speculation that its recent write-off of an advance was paid in anticipation of buying Russian vodka brand Stolichanaya.

Speaking to just-drinks today (21 September) the French beverage company quietened press speculation that its recent writedown of EUR45m (US$63.3m) reflects the reduced likelihood of Stolichanaya being bought.

A spokesperson for Pernod said: "There is nothing hidden behind this, these are normal accounts practices.