Diageo in frame for Jose Cuervo bid
There is heavy speculation that Diageo could make a US$2 billion bid for tequila brand Jose Cuervo.
Reports suggest that the Beckmann family, which owns the brand, have appointed Barclays to investigate options to sell part or all of the brand.
Diageo has the purchasing power but has recently agreed to pay £1.3 billion to buy the Turkish raki producer Mey Icki.
It is also reported to be lining up a £500 million bid for the Polish-based spirits producer Stock.
Diageo already has the UK distribution rights to Jose Cuervo.