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Diageo-United Spirits deal under scrutiny

STOCK market regulators are reportedly calling for changes to the deal Diageo has proposed to buy a controlling stake in Vijay Mallya's United Spirits.

The agreement for Diageo to pay around £1.3 billion to buy a 53.4% shareholding under a two-part process was announced last year.

Part of the transaction involves a tender offer for shares, which was due to open on January 7 and close on January 18, but has not yet gone ahead.

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