GSK says no decision yet made on Horlicks business

(Sharecast News) - Following reports that it was close to selling its Indian Horlicks business, GlaxoSmithKline on Thursday said only that it is considering a deal. This came a day after it had been suggested that Unilever was close to buying the Horlicks business and Glaxo's other India-listed consumer healthcare nutrition products for around $4bn, having entered exclusive talks with its fellow FTSE 100 company.On Thursday, GSK, led by CEO Emma Walmsey, said that "consideration is being given to a potential transaction that includes a merger" of Bombay Stock Exchange-listed subsidiary GlaxoSmithKline Consumer Healthcare Limited."There can be no assurance that a transaction will result from the review process or the evaluation of this option nor has any decision on the matter been made by the company."GSK owns a 72.5% stake in the BSE-listed business, which has a market cap of $4.2bn, plus a smaller Bangladesh-listed business.