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Diageo sets out goals

DRINKS manufacturer Diageo is taking the lead in emerging markets as demand increases in Moscow and Mumbai.

Its greatest rival, French company Pernod Ricard is hamstrung by massive debts taken on four years ago to buy Absolut vodka.

Diageo has snapped up producers of baijiu, cachaca and raki in China, Brazil and Turkey to drive sales in the world's fastest growing economies.

Diageo's next goal is a firmer grip on the world's biggest tequila producer, Jose Cuervo, which would provide important access to the emerging Mexican spirits market.