On Air Now

Listen

Listen Live Now » 93.7 FM Sheboygan, WI

Weather

Current Conditions(Sheboygan,WI 53081)

More Weather »
77° Feels Like: 79°
Wind: SSW 5 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Clear 60°

Tomorrow

Sunny 78°

Wed Night

Thunderstorms Late 68°

Alerts

India's Kingfisher shares jump on United Spirits, Diageo deal

MUMBAI (Reuters) - India's debt-laden Kingfisher Airlines extended gains after Reuters reported its chairman Vijay Mallya clinched a deal to sell a stake in United Spirits to Diageo, on hopes the money raised could be used to revive the carrier.

Diageo is set to acquire a 53.4 percent stake in United Spirits for more than $2 billion, according to an internal memo related to the deal obtained by Reuters.

Kingfisher's flight license has been suspended by aviation regulators. As of 3.52 a.m. EDT, Kingfisher shares were up 4.7 percent, while United Spirits shares were up 1.5 percent.

(Reporting by Rafael Nam; Editing by Anand Basu)

Comments