PAPASTRATOS – PHILIP MORRIS
October 1st, 2003
BY KEITH NUTHALLTHE ACQUISITION of Greek tobacco company Papastratos by the Dutch subsidiary of Philip Morris has been approved by the European Commission, which can concluded that the deal is not anti-competitive, even in Greece. Even though Brussels accepted Philip Morris would become the national market leader as a result, its concerns were eased by the fact that its existing brands are not in the same price segment as Papastratos's lines, such as Assos and President. The merger also follows a long running relationship, with Papastratos manufacturing and ...
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