Vijay Mallya, owner of India's United Breweries, could be preparing to make a bid for Scottish distiller Whyte & Mackay.

Reports in the Indian press suggest that Mallya is preparing to make a £460m bid for the group.

Robbie Tchenguiz, lead shareholder in Whyte & Mackay, confirmed to the Daily Telegraph: “We're in discussions but to be honest nothing has been decided.”