LVMH, the world’s largest luxury goods group, on Wednesday went on the record to deny it was talking to Diageo about selling the remainder of Moët Hennessy, to the UK-based drinks company, its partner in the upscale wine and spirits business.

The Paris-based group, controlled by Bernard Arnault, said it: “officially denies reports in certain newspapers today that suggest the group is in discussions to divest Moët Hennessy, its Wines&Spirits division. LVMH confirms that no such negotiations are taking place.”