Pernod Ricard has refused to be drawn on whether it has submitted a preliminary bid for Vin & Sprit.

The drinks company is one of the front runners, along with Fortune Brands, Diageo and Bacardi, to acquire V&S. The Swedish government said earlier this week that indicative bids for the state-owned company, which owns the Absolut vodka brand, are expected in the next few days.

Speaking to just-drinks today (24 January), however, Pernod's CEO Pierre Pringuet would not be drawn on the situation. "We are restricted by the confidentiality agreement we signed with the Swedish government, which prevents us from making any comments about any phases of the process," Pringuet said.

"It (the sales process) is fully under the control of the Government. If an indicative offer has had to be made, we have made it. If it is requested soon, then we will make it."

Pringuet also refused to be drawn on how much he believes Vin & Sprit to be worth. "It is worth the right price, the right value," he said.