British American Tobacco wipes $31.5 billion off value of US cigarette brands

British American Tobacco wipes $31.5 billion off value of US cigarette brands

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London — British American Tobacco (BAT) will take a hit of around $31.5 billion as it writes down the value of Camel, Pall Mall and other US cigarette brands, the company said Wednesday, acknowledging that its traditional market has no long-term future. The move by the maker of Lucky Strike and…

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