BAT Is Said to Launch ITC Selldown as Soon as This Week
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British American Tobacco Plc, the maker of Lucky Strike cigarettes, is preparing to kick off a sale of part of its stake in Indian partner ITC Ltd. as soon as this week, people with knowledge of the matter said.
London-listed BAT has been speaking with Bank of America Corp. and Citigroup Inc. about a potential divestment of around $2 billion to $3 billion in ITC stock through block trades, the people said.