The major spirits producers' plans to bid for Absolut vodka could be scuppered by a stock exchange flotation of the company instead. Diageo, Pernod Ricard, Bacardi & Fortune Brands have all been keeping tabs on plans by the Swedish government to privatise Vin &Sprit, the Absolut distiller. Investment bank Morgan Stanley has been appointed to oversee the sell-off with what Swedish financial markets minister Mats Odell called "a very open mandate." One of more of the spirits companies may be forced to declare their hand in an effort to persuade the government that a sale to a third party within the industry would be more profitable than a public share offer. The government still has not said what the timetable for disposal of V&S will be, though its not expected to be earlier than the start of 2008. Danish brewer Carlsberg is the latest company to declare an interest.
