Spain's Altadis Raises Cigarette Prices

Source from:  Learn to Trade with a FREE Guide.MADRID, Jan 9 (Reuters) 01/10/2008

Franco-Spanish tobacco company Altadis (ALDS.PA: Quote, Profile, Research) (ALT.MC: Quote, Profile, Research) on Wednesday raised its cigarette prices by 0.10 euros a packet, Spain's official government bulletin reported. A pack of Altadis' Fortuna and Nobel brands will now cost 2.50 euros, according to the government register. The increase compares with a rise of between 5 and 25 cents in Altadis cigarette prices at the start of 2007. Altadis is currently subject of a takeover bid by Britain's Imperial Tobacco (IMT.L: Quote, Profile, Research). Main rival and market leader Philip Morris, a unit of Altria Group Inc (MO.N: Quote, Profile, Research), increased Spanish prices of various brands including Malboro, between 5 and 10 cents last week. Enditem