BAT in Talks to Buy Scandinavian Tobacco Brands

Source from:  uk.news.yahoo.com Reuters 02/29/2008

British American Tobacco is in advanced talks with Scandinavian Tobacco to buy its cigarette brands in a deal that could be valued at up to $4 billion (2 billion pounds), the Financial Times said on Thursday. The newspaper, citing people close to the situation, said a deal could be announced alongside BAT's annual results later on Thursday. Scandinavian Tobacco's brands include Prince, which has a 33 percent share of the Scandinavian market, the paper said. BAT and Scandinavian Tobacco could not immediately be reached for comment. Enditem