Altria may spin off global arm of cigarette business

The board of the parent company of Philip Morris USA and Philip Morris International is to meet next week to decide whether to spin off the international arm of its cigarette business, a newspaper said.

Aug 27, 2007, 03.08 AM IST

NEW YORK: The board of the parent company of Philip Morris USA and Philip Morris International is to meet next week to decide whether to spin off the international arm of its cigarette business, a newspaper said.

Citing people with knowledge of the discussions, the report said the board of the Altria Group is to meet on Wednesday to weigh the decision as part of a restructuring plan to increase shareholder value.

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