Diageo (LON: DGE ) PLC, the British multinational beverage alcohol company, confirmed that it has no plans to sell its iconic Guinness brand or its share in Moet Hennessy.

This announcement on Sunday was a response to a media report suggesting the possibility of the company divesting some of its brands due to a slowdown in demand from key markets such as China and the United States.

The speculation about potential sales of underperforming labels had emerged amid concerns over changing consumer preferences and economic challenges in these significant markets.

However, Diageo has dismissed the idea of offloading these assets, emphasizing its commitment to both Guinness and Moet Hennessy.

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