Philip Morris in talks with Altria to create $200-billion tobacco group

Analysts and investors have long speculated that the companies would merge

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International news: Philip Morris International and Altria Group are discussing an all-stock merger, potentially reuniting two of the world’s largest tobacco firms after more than a decade, in a deal aimed at domination of the fast-growing e-cigarette market.

Altria’s shares initially rose more than 6 per cent, while Philip Morris fell almost 10 per cent. A merger of the two would create a company with a market value of more than $200 billion.

Analysts and investors have long speculated that the companies would merge, given mounting pressure from declining cigarette sales and the need to invest in other sources of...read more

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