Market rumours
Bloomberg reported on Friday that the drinks manufacturer was considering a sale of the multibillion-pound business, which could raise a possible £8bn.
Diageo initially said it would not comment on “market rumours”, but it later issued a statement on Sunday (26 January) evening to state it had no plans to auction Guinness, or its 34% stake in wines and spirits brand Moët Hennessy, which is part-owned by LVMH.
No intention
“We note the recent media speculation around the Guinness brand and our stake in Moët Hennessy and we can confirm that we have no intention to sell either,” Diageo said.
Diageo shares jumped as much as 6.8% Friday afternoon in London after Bloomberg reported the review. It was the biggest intraday advance in more than four years, following a slump in the shares since Debra Crew took as CEO a year and a half ago.
