BAT Is Considering Reducing Its Stake in ITC

According to Moneycontrol, British American Tobacco (BAT) is considering reducing its 29.02% stake in ITC.

Analysts said the move would not have a significant impact on ITC.

BAT CEO Tadeu Marroco said: “We don’t need to hold more than 25% of ITC to have strategic influence, including veto rights. Today, we hold more than that.”

BAT currently holds ITC shares worth 1.63 trillion Indian rupees (about US$19.64 billion).