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
- Google's Pichai to oversee major products and services
- Modi takes tea, but no questions, in first press event as PM
- UPDATE 2-Motor racing-Caterham and Marussia to miss next races - Ecclestone
- Two killed, four wounded in Washington state school shooting
- Reuters Poll - India's growth pace to pick up as reforms draw investment
Finance Minister Arun Jaitley favours a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the Reserve Bank of India (RBI) has signalled it will not ease policy until it is confident of lower inflation. Full Article
Euro zone risks "relapse into recession" without structural reforms - Draghi. Full Article
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article