Diageo shuts down rumours that it is planning to sell Guinness business
Eva Osborne
Diageo has shut down rumours that it is planning to spin-off or sell the Guinness brand.
It comes amid speculation that it was considering selling the business, after Bloomberg News reported it could be valued at nearly €9.5 billion.
A spokesperson for Diageo said it has no intention to sell either the Guinness brand or its stake in Moët Hennessy.
Bloomberg News had also reported on Friday that the drinks giant was reviewing the future of its 34 per cent stake in Moët Hennessy.
The rumours follow a testing period for Diageo boss Debra Crew, who has seen the company’s shares steadily decline under her leadership over the past year-and-a-half.
In November, Diageo shares hit their lowest level since 2017.
The company has already reportedly looked at the potential sale of its Pimms liqueur and Ciroc vodka brands over the past year.
