Diageo is mulling over a move for Turkish spirits group Mey Icki, according to press reports.

The maker of Smirnoff and Guinness could bid up to $2.5bn (£1.58bn) for the Turkish company, which was state-owned until it was sold to private equity group TPG Capital in 2006. That deal valued the business at $600m.

Talks between Diageo and Mey Icki’s owner are said to be at an “exploratory” stage.

News of the approach comes with Diageo awaiting regulatory clearance for its £700m move for Chinese spirits maker Shui Jing Fang.

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Cable backs Diageo’s bid for China spirits group (8 November 2010)