French drinks group Pernod Ricard has called back Morgan Stanley for a second big acquisition with a €2bn ($2.6bn) deal reportedly ready to be signed. The US bank worked on the group's £7.4bn (€10.9bn) acquisition of UK rival Allied Domecq last year.

French business magazine Challenges said Pernod Ricard was close to closing the agreement to take over production and distribution of the spirits divisions of FKP Soyuzplodoimport, the Russian federal state owned company.