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EU extends review of BAT/ST cigarette deal

Deals

The European Commission delayed its decision on whether British American Tobacco can buy Skandinavisk Tobakskompagni's cigarette business for Ł2 billion ($3.94 billion).

BAT wants to buy 100% of the cigarette assets of privately owned, Denmark-based Skandinavisk Tobakskompagni with snus and roll-your-own tobacco in an immediately earnings-enhancing deal.

The Commission said the decision was delayed to June 27 from June 13, so that customers and competitors could review potential remedies that BAT has offered.

Such remedies are offered to fix competitive problems identified by the Commission, the EU executive. (Reuters)

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