EU DIVIDES UP PHILIP MORRIS MONEY
October 1st, 2006
BY KEITH NUTHALL
THE COST to Britain's exchequer of refusing to participate in the European Union's legal agreement with Philip Morris over illicit cigarette trades has become clearer with the European Commission dividing up the spoils. PMI has promised to pay US$1 billion over 12 years to the European Commission and 10 European Union (EU) member states who have participated in the deal, with the cigarette giant already handing over US$325 million. Brussels has now announced that it will hang onto just 9.7% of any PMI payments, which is the standard share of ...
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