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INDIA: UB to table bid for Shaw Wallace - report

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India's United Breweries Group is likely to unveil a bid for its rival Shaw Wallace, according to local press reports.

The Hindu Business Line broke the story, quoting a senior UB official.

"We have not bid yet, but we are likely to do it," said the official, who was not named in the report.

Shaw Wallace owner the Jumbo Group has put the liquor business up for sale. However, it has told its broker McKinsey & Co not to consider bids from UB.

"The Jumbo Group has written to UB saying that we don't wish to enter into any discussions with (UB chairman) Mr. Mallya," a Jumbo Group spokesperson was quoted saying.


Sectors: Spirits

Companies: United Breweries Limited

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