Indian billionaire Vijay Mallya's move to rope in Diageo -- the world's largest spirits firm -- as a strategic partner in his flagship firm United Spirits has hit an anti-trust roadblock. The companies have been in discussions for almost a year to hammer out a deal in which Diageo was expected to pick up a little over 14 per cent stake in USL for around Rs 1,200 crore.
Formula One was accused of sending out a mixed message on alcohol at the Monaco Grand Prix on Friday by giving extensive publicity to drinks brands while campaigning for road safety.
The sale came when Mallya was trapped in a sea of debt, mainly as a result of the losses his now grounded carrier, Kingfisher Airlines, had been piling.
Things appear to be going from bad to worse for Vijay Mallya, once known as 'King of Good Times', with the board of a company he nurtured into India's largest liquor maker asking him to quit.
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