United Spirits, the Indian whiskey maker controlled by Vijay Mallya, saw share prices fall the most in eight months in Mumbai trading on speculation that discussions to sell a stake to Diageo could fall through.

Distillery group Diageo is placing acquisitions in Asia Pacific “high” on the agenda to reach a target of increasing revenue from the region to a fifth of total sales.

Diageo is in talks to acquire a stake in Indian billionaire Vijay Mallya’s United Spirits Ltd, reviving an on-again, off-again courtship that would ramp up its presence in the world’s largest whiskey market.