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Tobacco Giant Plans Spinoff of Overseas Arm

Philip Morris unit, less vulnerable to lawsuits, can focus on growth

By Sam Gale Rosen,  Newser Staff

Posted Aug 29, 2007 4:03 PM CDT

(Newser) – Altria, the world's largest tobacco company, wants to break its Philip Morris International unit off from its US counterpart, Bloomberg reports, to pursue greater overseas growth while insulating it from health-related US lawsuits. "Tobacco is growing overseas, while in the US it's in decline,...   Read full story »

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