Is Philip Morris acquiring Fortune Tobacco?
MANILA, Philippines - Cigarette maker Philip Morris has called for a press conference on Thursday to possibly announce a major deal.
Company officials would not disclose any details but three ABS-CBN sources said Philip Morris will announce the acquisition of a majority stake in rival and current market leader, Fortune Tobacco.
According to ABS-CBN's Business Nightly, the acquisition would be in the form of a merger.
Fortune Tobacco is owned by Lucio Tan, one of the richest men in the Philippines, according to Forbes magazine.
Over the years, Fortune's near monopoly of the cigarette industry has dwindled to a market share of less than 60%.
On the other hand, Philip Morris has steadily carved a bigger market share through aggressive marketing campaigns and expansion of distribution reach. The multinational firm has an estimated market share of 30%.
The Philippines is one of the remaining cigarette markets in the world dominated by a local firm. This will be reversed if the deal between Tan's cigarette unit and the multinational firm pushes through.
Filipinos smoke around 80 million cigarette sticks a day.
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Irrelevant comment about the topic...
I can't see any connections about the subject on your comments.
Does it make any sense?
Tatlong Bisyo Ng Pilipino - Sigarilyo, Alak At Babae.
Kung sa babae, alam na nating walang interes si Noynoy diyan. Pero kung siya'y lasinggero at chain smoker pa, iyan tiyak ang dahilan kung bakit iniiwanan siya ng kanyang buhok.
Noy, tumanda ka na't lahat hindi mo pa yata alam na hindi maganda yang halimbawa mong pinakikita sa ating mga kabataan. Lung cancer, emphysema at asthma ang mga sakit na nakukuha diyan sa paninigarilyo. At kung umiinom ka pa, tiyak na sakit sa atay ang dadapo sa iyo.
Either way he smokes, Smoking
Either way he smokes, Smoking is dangerous to our health and his pa rin. Kaya kung ako si Noynoy, he better quit. Its for his own good. And I wish the smoking culture will be kicked out of the Filipino consciousness soon if we all want to be in a clean environment.
Tanong lang
Alin ba dito sa dalawa brand ng yosi ni Noynoy? O imported yug himihitit nya?