British American Tobacco p.l.c. (BAT) on Tuesday confirmed it is evaluating a potential disposal of a small part of its shareholding in ITC Limited via an on-market trade. The confirmation comes in response to recent market speculation regarding a stake sale.
In its official statement, BAT clarified that while discussions are underway, there is no certainty that any transaction will proceed. The company also stated that there is no assurance on the terms of any potential deal. A further announcement will be made if and when appropriate.
The statement was issued on behalf of BAT by Company Secretary Caroline Ferland.
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