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Jump to full article: Financial Times (uk), 2005-06-16
Author: Lisa Urquhart Published: June 16 2005 03:00 * Last updated: June 16 2005 03:00
Intro: Gallaher, the UK cigarette group behind the Benson & Hedges and Silk Cut brands, is believed to be in talks to acquire Cita, the joint venture between Altadis the Franco-Spanish cigarette company and the Canary Islands' Zamorano family.
Gallaher has been regularly linked with Cita and is now thought to be weeks from signing an agreement.
While Cita accounts for about 3 per cent of the Spanish cigarette market, its location on the Canary Islands, a popular destination for UK tourists, is believed to be one of the reasons why it is attractive to Gallaher.
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