United Spirits jumps on media report over Diageo talks
Reuters Market Eye - Shares in Spirits(UNSP.NS) rose as much as 3.3 percent to its highest since January 2011, after CNBC TV 18, a local news channel, reported top officials at the Indian liquor maker were expected to meet Diageo(DGE.L) on Thursday to continue discussing a potential stake sale, citing unidentified sources.
United Spirits has been in talks to sell a stake to the world's biggest spirits group but the outcome has been in doubt after Vijay Mallya, who controls the liquor company, told Reuters on October 27 he had not reached a deal with Diageo (DGE.L).
United Spirits declined to comment when contacted by Reuters. Diageo officials were not immediately reachable.
United Spirits shares are known for their volatility, reacting often to the speculations about speculated developments from its talks with Diageo.
United Spirits shares were up 2.6 percent as of 11:22 a.m.
- Tweet this
- Share this
- Digg this
- IPhone emerges from "bygone era", reviewers hail bigger handset
- Alibaba in talks with Snapdeal to enter India - Economic Times
- After Obama speech, Islamic State wins new recruits in Syria - monitor
- Amazon expands Kindle lineup, boosts price of basic e-reader
- Fed renews zero rate pledge, but hints at steeper rate hike path
The United States said on Wednesday it will press Prime Minister Narendra Modi to end his blockage of a global trade pact when he visits Washington this month, something that could dampen the mood of a trip aimed at revitalizing strategic ties. Full Article
China cenbank injects $81 bln into major banks to support economy - reports Full Article