BAT is looking to monetize part of its 29% stake in ITC while keeping its holding at least at 25%. The timeline is uncertain. There will be minimal buying from passive trackers. Will SUUTI also sell?
Boomeranged on Tue, 12 Mar 2024 09:22
Multiple media outlets reporting that British American Tobacco are looking at selling part of their stake in ITC as early as this week. The reports say the stake sale could be between US$2-3bn. Going down to 25% holding will require BAT to sell US$2.5bn of ITC. This has been widely anticipated so a big move lower could provide an entry opportunity.
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