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Firm once fought to keep ITC in tobacco
Financial Express Mumbai
|June 30, 2026
THERE IS A certain irony in BAT's scramble to move away from cigarettes.
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In the mid-1990s, BAT fought bitterly to keep its Indian subsidiary, ITC, focused on tobacco alone.
When ITC's management pushed to diversify into hotels, financial services and consumer goods, BAT - then holding a 31% stake resisted fiercely.
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