United Spirits up on reports Diageo open offer approved

Tue Feb 5, 2013 3:02pm IST

Bartenders work at Aqua, a bar popular with middle and upper class professionals in Hyderabad Andhra Pradesh March 5, 2012. REUTERS/Vivek Prakash/Files

Bartenders work at Aqua, a bar popular with middle and upper class professionals in Hyderabad Andhra Pradesh March 5, 2012.

Credit: Reuters/Vivek Prakash/Files

Related Topics

Stocks

   

Reuters Market Eye - Shares in United Spirits (UNSP.NS) gain 3.4 percent following media reports that the Securities and Exchange Board of India (SEBI) has cleared Diageo Plc's (DGE.L) open offer for the Indian company.

A SEBI spokesman told Reuters the regulator has issued final observations on the offer but would not comment beyond that.

SEBI was due to issue its judgement on the open offer component of Diageo's $2.1 billion deal for United Spirits.

Competition Commission of India has the final approving rights on the whole deal.

United Spirits officials were not immediately available for comment. Diageo was not immediately reachable.

(Reporting by Abhishek Vishnoi)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Trade Deal

REUTERS SHOWCASE

Bullish on Equities

Bullish on Equities

Bullish on Indian equities, but gains seen 'less sharp'- Goldman Sachs  Full Article 

Streamlining Operations

Jet Streamlines

Jet Airways chairman says looking to restructure debts, talking to bankers  Full Article 

Political Economy

Political Economy

Analysis - Watch what markets don't do as world politics turns nasty   Full Article 

Photo

Honda's India Thrust

Honda's India unit to account for 25 pct of Asia Pacific sales by March 2017 - exec   Full Article 

Short of Expectations

Short of Expectations

Apple revenue lags Street's view despite strong China growth  Full Article 

 Boosting Output

Boosting Output

NMDC plans to boost iron ore output by two-thirds  Full Article 

Apple Results

Apple Results

Apple margin concerns fade, focus shifts to iPhone launch  Full Article 

Photo

Food Scandal

Five held in China food scandal probe, including head of Shanghai Husi Food   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage