Diageo bids for share of United Spirits

BANGALORE, INDIA: Diageo is in talks to buy 10%-13% of United Spirits, India's largest spirits manufacturer. United Spirits, estimated to be worth more than $5bn (£2.42bn), said it was considering Diageo's $500-$600m (£242-£290m) offer, but was keen not to lose management control. In May, United Spirits, which is the world's third-largest alcoholic drinks company, acquired Whyte & Mackay for $1.2bn (£581m).