RUSSIA TOBACCO SECTOR SHAKEN UP BY JAPAN TOBACCO TAKEOVER OF GALLAHER
March 1st, 2007
BY MARK ROWEONE of the prime motivations for Japan Tobacco's takeover of Gallaher Group was to help the company establish a presence in Western Europe, where it figures only slightly. But the most seismic effects of the takeover may well be felt in neighbouring Russia, the world's third largest cigarette market, where two thirds of men and a third of women are smokers, prices are low despite hikes in excise duties, and the habit has little of the social stigma attached to it in the US and Britain.Japan Tobacco (JT), perhaps best known as the maker of Mild ...
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