BAT stands by forecasts however long it takes to leave Russia
Signage is seen at the London offices of British American Tobacco, in London, Britain, January 15, 2021. REUTERS/Toby Melville
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June 9 (Reuters) – British American Tobacco’s (BATS.L) options for leaving Russia, where it controls almost a quarter of the market, include transferring the business to its local partner, the maker of Pall Mall and Rothmans cigarettes said on Thursday.
The British company’s distributor in Russia, SNS Group of Companies, said in March that the two firms were in advanced talks after Moscow suggested it could nationalise assets of foreign firms that left the country. read more
Chief Marketing Officer Kingsley Wheaton said transferring the business to SNS, which has been working with British American Tobacco (BAT) since 1993, was still one option the company was considering.
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BAT said it was…
