Diageo confirms Indian interest
British booze giant, Diageo, has confirmed it is in talks to invest in Indian outfit United Spirits.
British booze giant, Diageo, has confirmed it is in talks to invest in Indian outfit United Spirits.
United Spirits is listed on the National Stock Exchange in Mumbai and rumours of the transaction have seen the shares rise 8% since Monday.
United's market cap is currently around 141bn rupees, or £1.62bn. It also claims to be the biggest spirits company in the world by volume, owning the McDowells rum and brandy brands.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Tuesday's statement makes clear there is no certainty "discussions will lead to a transaction".
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
8 of the best riverside properties for sale
The best riverside properties for sale – from a Grade II-listed former mill house with views over the River Chelmer in Essex, to a townhouse on a Georgian terrace overlooking the Avon Gorge in Clifton, Bristol
-
Will “Liberation Day” strike again?
Donald Trump’s 90-day tariff pause comes to an end on 9 July. Can we expect further market turmoil?