Diageo is also said to be weighing the sale of Cîroc vodka, while it has sold a series of brands in the past year including Guinness Nigeria, Safari and Cacique. The firm was also forced to abandon its efforts to sell Pimm’s after a deal failed to materialise.

Diageo has ruled out a sale of its Guinness brand following speculation it could offload its famous stout in a bid to revive growth.

Diageo does not intend to sell its beer brand Guinness or its stake in Moet Hennessy, LVMH's drinks unit, the world's top spirits makers said on Sunday. On Friday, Bloomberg News reported that the company was exploring options for Guinness,

Diageo Plc said it doesn’t plan to sell the Guinness beer brand or its stake in Moet Hennessy, even as pressure grows on the company to find ways to revive growth.

Diageo shares soared to the top of the FTSE 100 on Friday after Bloomberg reported it was looking to sell or list its famous Guinness brand.

Diageo ( DEO) ADRs rose Friday after Bloomberg reported that the company was looking at a potential spinoff or sale of Guinness, which may be valued at more than $10 billion.

News about a potential sale of the beer label, a star performer in Diageo's portfolio, helped lift Diageo's shares almost 4% higher, becoming the top percentage gainer on the blue-chip index. However, some analysts and one source familiar with the situation said a Guinness sale right now did not make sense.

Diageo has responded to rumours that it is looking to sell its Guinness brand, stating that “no intention to sell”.

Reports emerged last week that the FTSE 100 firm was considering spinning out the Irish stout maker or selling it off entirely to boost growth.