Multinational drinks owner Diageo has squashed speculation that it is about to sell beer brand Guinness, as well as champagne and cognac maker Moët Hennessy.
Speculation was rife that the business was keen to cash in on the increased popularity of ‘the black stuff’ after recent on-trade shortages.
Diageo shares soared after analysts calculated that a sale of Guinness could generate some £8 billion.
“We note the recent media speculation around the Guinness brand and our stake in Moët Hennessy, and we can confirm that we have no intention to sell either,” said Diageo.
