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’s share price retreated in London as the drinks’ giant denied market speculation swirling around Moët Hennessy and 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.

Drinks maker Diageo said on Sunday that it has no intention to sell its Guinness brand or its stake in Moët Hennessy.

Bloomberg reported on Friday that Diageo was reviewing its portfolio and weighing up spinning off or selling Guinness.

Media reports suggested Diageo was considering asset sales to boost growth, cashing in on high demand for Guinness. View on euronews