United Spirits falls on Diageo deal uncertainty

Written By Unknown on Senin, 29 Oktober 2012 | 14.02

Reuters Market Eye - Shares in United Spirits fall as much as 7.1 percent after Vijay Mallya, who controls the liquor company, told Reuters on Sunday he had not reached a deal to stake a stake to Diageo.

Mallya, who is looking to raise funds for debt-laden Kingfisher Airlines , added he was not willing to sell his "family silver" to rescue the carrier.

On Saturday Mallya had additionally told Reuters he was uncertain whether a deal to sell a stake in United Spirits to Diageo would be struck.

United Sprits shares are down 2.3 percent as of 12:11 p.m., although Kingfisher Airlines gains 4.9 percent, surging for a third day after striking workers agreed to return to work after reaching a deal on delayed pay.



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