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Diageo is reportedly considering a billion-pound bid for Jose Cuervo. The drinks giant, whose stable of spirits includes Smirnoff vodka and Johnny Walker whisky, already holds the UK distribution rights to Jose Cuervo.
The government is setting the minimum price on alcohol as excise duty plus VAT. The move effectively establishes a floor of 38p on a 440ml can of lager and 10.71 for a litre of vodka. Production costs will not be included in the calculations.
Diageo has warned it would consider legal action against other misleading lighter-strength vodka brands after winning a two-year dispute with Vodkat owner ICB.
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