Diageo, the world’s largest drinks company has announced that its discussions with United Spirits, owners of Whyte & Mackay and Kingfisher beer, about a “mutually beneficial arrangement for the future of both businesses in the India market”, have ended.
The official announcement said: "It has not proved possible for Diageo to resolve points of difference between the two parties, principally valuation, and Diageo has made the decision to pursue the potential it sees for its brands in India separately from United Spirits. Diageo remains confident as to the long term prospects of the Indian market."
