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India: Sources say major alcohol merger approved, no confirmation yet

By  |  February 27, 2013
India: Sources say major alcohol merger approved, no confirmation yet

According to sources, the Competition Commission of India has approved of the merger remedies proposed by alcohol giant USL in its bid to acquire Diageo Plc. While the Commission would not comment on the matter, media are reporting sources are of official or legal ranking with inside information. According to reports, the approval of the merger would aid Kingfisher Airlines, a financially-troubled venture of Mallya’s UB Group, which also umbrellas USL.

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    Full Content: Hindu Business Line

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