Drinks conglomerate Diageo (NYSE:DEO) denied speculation Sunday that it was looking to shop the Guinness beer brand and possibly jettison its stake in Moet Hennessy. "We note the recent media speculation around the Guinness brand and our stake in Moët Hennessy and we can confirm that we have no intention to sell either,

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.

Diageo Plc doesn’t plan to sell the Guinness beer brand or its stake in Moet Hennessy, according to a statement Sunday.

A shocking shake-up could see Diageo offload its star beer brand--while debt and declining spirits sales mount pressure.

Diageo , the world's top spirits maker, is exploring a potential spin-off or sale of beer brand Guinness and is reviewing its stake in LVMH's drinks unit, Moet Hennessy, Bloomberg News reported on Friday,

Under pressure drinks giant issued a statement on Sunday in response to Bloomberg report on Friday which was carried worldwide

Shares in Diageo stood at 2,501.5p, up 4.16% on the day. The positions of the Moët Hennessy stake and of Guinness in the Diageo portfolio have periodically been the subject of market speculation. In December 2023, Axios reported Diageo was seeking to sell a clutch of assets in beer but retain Guinness, its flagship brand in that sector.