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)
Trending On Reuters
The deaths of a number of witnesses in a massive fraud case surrounding cheating at college and government jobs has become the latest source of discomfort for the Bharatiya Janata Party (BJP), already on the defensive over influence trafficking allegations. Full Article
Insight - Car dashboards that act like smart phones raise safety issues Full Article