United Spirits, Diageo talks fail; stock down 7%
Investors dumped shares of United Spirits after reports that Diageo’s talks to buy stake in the alcohol maker have hit a roadblock as the two sides have not been able to agree on details.
By ET Bureau |
MUMBAI: Investors dumped shares of United Spirits after reports that Diageo���s talks to buy stake in the alcohol maker have hit a roadblock as the two sides have not been able to agree on details.
Diageo, the world's largest alcoholic drinks group, said in November it was considering a collaboration with United Spirits.
In February, United Spirits said it was willing to offer a stake of more than 15 percent and board representation to Diageo.
At 11:20 am, shares of the company fell 6.91 per cent to Rs 665 on the BSE following the news.
Diageo, the world's largest alcoholic drinks group, said in November it was considering a collaboration with United Spirits.
In February, United Spirits said it was willing to offer a stake of more than 15 percent and board representation to Diageo.
At 11:20 am, shares of the company fell 6.91 per cent to Rs 665 on the BSE following the news.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
