Reports that Philip Bowman, chief executive of Allied Domecq, has met with Bacardi CEO, Ruben Rodriguez, in preliminary talks regarding a possible merger between the two companies have been dismissed by Allied Domecq as “completely speculative”.

An Allied spokesman added that competing companies met frequently at industry meetings but would not comment further.

Press reports over the weekend had suggested that Allied Domecq had held talks with Bacardi in a move to pave the way for a US$16 billion merger of the two companies.

Last Tuesday, Bacardi announced that its shareholders had approved the creation of two classes of common stock but for an initial public offering to be sanctioned a further vote would be required.

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