Diageo's new chief executive Paul Walsh has talked about why he linked up with Pernot Ricard in a $9bn takeover bid for the Seagram drinks business.

He says: "The alliance was formed so Diageo has the best chance of getting the brands it wants.

"We know we would have some issues with certain brands because of regulatory reasons. We know some brands are not very high priority for us. We also know there are some brands we would be very, very keen to acquire."

Walsh visited five African countries in five days last month - and managed to fit in a bar visit in each one. Apparently he always makes time to see where his array of brands is consumed.

Diageo releases full-year results on Thursday.

The Sunday Telegraph 03/09/2000

page B6 (Business)

Sunday Business 03/09/2000

page 40 (Business Life)

The Sunday Times 03/09/2000

page 3.7 (Business)