Diageo chief executive Paul Walsh
Media playback is unsupported on your device

Diageo buys majority stake in India's United Spirits

9 November 2012 Last updated at 16:21 GMT

UK drinks giant Diageo is buying a majority stake in India's United Spirits group for £1.28bn ($2.04bn).

Diageo, whose brands include Johnnie Walker, Guinness and Smirnoff, will get a 53.4% share in Indian liquor baron Vijay Mallya's United Spirits.

Chief executive of Diageo Paul Walsh told BBC News that India is" an exciting market and we get the number one position".