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United Spirits jumps on rising hopes for Diageo deal

Source : REUTERS
Last Updated: Tue, Oct 09, 2012 09:05 hrs
Diageo move for stake in United Spirits hits snag

United Spirits gains 6.6 percent on rising hopes the Indian spirits maker controlled by billionaire Vijay Mallya will clinch a deal to sell a stake to Diageo Plc .

A report in The Economic Times, which suggested Mallya and rival liquor tycoon Kishore Rajaram Chhabria have arrived at a truce in their long-standing legal dispute over ownership of whiskey brand Officer's Choice, was seen facilitating a potential deal with Diageo.

Calls made by Reuters to United Spirits officials were unanswered while Chhabria could not be contacted immediately.

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