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Journalism of Courage
Liquor manufacturer United Spirits dipped nearly 5 per cent in the early morning trade on the Bombay Stock Exchange,a day after world8217;s largest alcohol player Diageo8217;s protracted efforts for a pie in Vijay Mallya8217;s group firm failed.
Shares of United Spirits dipped 4.81 per cent to a low of Rs 885 on the BSE,while it slipped 5.19 per cent to Rs 881.05 on the National Stock Exchange.
Yesterday,the British firm8217;s efforts to buy a 15 per cent stake in United Spirits Ltd came to an abrupt end. The two firms were in talks since early this year for the sale of USL8217;s treasury stock created by amalgamation and demergers,which are not traded on exchanges.
The deal would have added global brands like Johnnie Walker Black Label and Smirnoff to the USL stable,which already has McDowell8217;s No.1,Romanov,Royal Challenge and Black Dog in its portfolio.
