British drinks giant Diageo is in talks to acquire a stake in India's United Spirits.
"There is no certainty that these discussions will lead to a transaction," the companies said in a joint statement today.
No other details of the proposed deal were made public.
United Sprits is controlled by cash-strapped drinks and airline baron Vijay Mallya.
He needs money to shore up his Kingfisher Airlines, which has been teetering on the edge of bankruptcy.
