Reuters: Global Markets: India's Kingfisher shares jump on United Spirits, Diageo deal

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India's Kingfisher shares jump on United Spirits, Diageo deal Nov 9th 2012, 09:06 MUMBAI | Fri Nov 9, 2012 4:06am EST MUMBAI (Reuters) - India's debt-laden Kingfisher Airlines (KING.NS) extended gains after Reuters reported its chairman Vijay Mallya clinched a deal to sell a stake in United Spirits (UNSP.NS) to Diageo (DGE.L), 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.

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