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Will Diageo's Rs 11,000 crore deal with Mallya save Kingfisher?



Vijay Mallya has struck a Rs 11,000 crore deal with the world's largest spirits group, Diageo, which will now have a controlling stake of 53.4 per cent in Mr Mallya's crown jewel United Spirits. The big question: how much cash will Mr Mallya now divert to his ailing Kingfisher airline? At the moment, Mr Mallya, who spoke to journalists on the phone line from London, says he's not sold off his family jewels, only embellished them.