Diageo shares rise over bid reports

Shares in Guinness maker Diageo built up a head today as investors responded to reports that Brazil’s richest man was preparing a bid for the British drinks maker.

Stock in the London-listed firm jumped 7% after reports in Brazilian newsweekly Veja that billionaire Jorge Paulo Lemann and his partners in private equity firm 3G Capital were considering a bid for the drinks firm valued at €64bn.