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· Business (Tobacco)
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· BAT
· Richemont
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Jump to full article: Times Of London (uk), 2008-08-14
Author: Heath Aston
Intro: Shares in British American Tobacco (BAT) fell by as much as five per cent today after it announced it was seeking a secondary listing on the South African stock exchange.
BAT lost 49p to £18.27 before recovering after luxury goods company Richemont and investment group Remgro, which are controlled by South Africa's billionaire Rupert family, said they would spin off a combined 27 per cent stake in BAT to shareholders.
The shake-up, which is being driven by impending tax law changes in Luxembourg, would place BAT in the top three companies on the South African exchange
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