United Spirits Ltd. on Tuesday said reports on potential stake sale in IPL franchise Royal Challengers Bengaluru are “speculative in nature” and denied any such proposal.
“The company would like to clarify that aforesaid media reports are speculative in nature and it is not pursuing any such discussions,” the liquor maker said in a stock exchange filing.
The clarification comes after NDTV Profit reported British distiller and United Spirits’ parent Diageo Plc is evaluating options to sell a partial or full stake in RCB.
The report said Diageo has been holding talks with potential advisers and may seek a valuation of up to $2 billion for the team, which it owns via its Indian subsidiary United Spirits Ltd (USL). (NDTV)