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  • UK drinks group Diageo's mandatory tender offer to buy up to 26 percent of shares in India's United Spirits has been postponed as the deal has yet to receive local regulatory approvals, a source with direct knowledge of the matter said on Monday. Diageo agreed in November to buy a 53.4 percent stake in United Spirits Ltd for $2.1 billion under a two-stage process including the mandatory tender offer which was set to open on Monday and close on January 18. [caption id=attachment_580458 align=alignleft width=380

    UK drinks group Diageo's mandatory tender offer to buy up to 26 percent of shares in India's United Spirits has been postponed as the deal has yet to receive local regulatory approvals, a source with direct knowledge of the matter said on Monday. Diageo agreed in November to buy a 53.4 percent stake in United Spirits Ltd for $2.1 billion under a two-stage process including the mandatory tender offer which was set to open on Monday and close on January 18. [caption id=attachment_580458 align=alignleft width=380