ITC slips as top shareholder BAT looks to cut stake
Thursday, 8 February 2024
ITC stock fell 4% as British American Tobacco, the conglomerate's largest shareholder, expressed intentions to dilute its stake in the company. BAT, one of the world's largest cigarette makers, is considering selling up to 4% of its stake in ITC. BAT CEO Tadeu Marroco mentioned pursuing balance sheet flexibility and completing the regulatory process.
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