Diageo May Up Stake in China Spirits Market

Diageo plc is in talks´┐╝ with Chinese authorities to increase its indirect stake in ShuiJingFang, the Chinese liquor maker behind upmarket baijiu drinks brand, according to the Sunday Telegraph. Diageo, the owner of premium drinks brands such as Johnnie Walker and Smirnoff, currently holds a 53 percent stake in Quanxing, the holding company that owns a 39.7 percent stake in ShuiJingFang. Under the current set-up, Diageo owns a 21 percent indirect stake in ShuiJingFang. (Sunday Telegraph via NASDAQ)