MUMBAI Nov 9 India's debt-laden Kingfisher
Airlines extended gains after Reuters reported its
chairman Vijay Mallya clinched a deal to sell a stake in United
Spirits to Diageo, on hopes the money raised
could be used to revive the carrier.
Diageo is set to acquire a 53.4 percent stake in United
Spirits for more than $2 billion, according to an internal memo
related to the deal obtained by Reuters.
Kingfisher's flight license has been suspended by aviation
regulators. As of 0852 GMT, Kingfisher shares were up 4.7
percent, while United Spirits shares were up 1.5 percent.
(Reporting by Rafael Nam; Editing by Anand Basu)