Diageo: ‘No Intention’ to Promote Guinness or Stake in Moët Hennessy

• Diageo has denied stories that it’s contemplating promoting Guinness or its stake in Moët Hennessy.
• Bloomberg had reported that the corporate was reviewing its portfolio.
• Diageo stated in a press release on Sunday that it had “no intention to promote both.”

Drinks large Diageo has denied stories that it’s contemplating promoting Guinness or its stake in Moët Hennessy.

In a press release on Sunday, the corporate responded to “latest media hypothesis” and stated that it had “no intention to promote both.”

Bloomberg reported on Friday that Diageo was reviewing its portfolio and weighing up spinning off or promoting Guinness. The report stated Diageo’s stake in Moët Hennessy was additionally being reviewed.

“We’ll subsequent replace the market with Interim outcomes on 4 February 2025 and we look ahead to internet hosting our Guinness investor and analyst day on 19/20 Might 2025,” Diageo stated in its assertion.

It is a growing story. Test again for updates.