ITC Jumps as BAT’s $2.1 Billion Stake Sale Removes Key Overhang
- About 3.6% of ITC’s equity changed hands via block deals
- BAT’s offer to pare ITC stake received enough bids: terms
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Shares of ITC Ltd. surged the most in nearly four years after 3.6% of the company’s equity traded in block deals as British American Tobacco Plc’s offer to sell a $2.1 billion stake in the Indian tobacco and consumer goods products maker commenced.