LONDON -- In this video analysis, Motley Fool editor and writer Maynard Paton takes a further look at Diageo's announcement that it's in discussions to buy a stake in United Spirits, and what this might mean for both sides.

Maynard then goes on to assess Diageo as an income share, comparing it to another FTSE blue chip in the form of Vodafone. Watch the video below for his thoughts.

With Diageo's shares having jumped 82% during the last three years, it has certainly paid to back old-fashioned, dividend-paying blue chips of late.

So if you are seeking similar FTSE 100 opportunities, this special free report could assist your investment decisions.

"8 Popular Dividend Shares Held By Britain's Super Investor" reveals the favorite income stocks held by Neil Woodford -- the City legend who has thrashed the FTSE 100 during the 15 years to 2011 by favouring steady and reliable blue chips.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.