Ethiopia: Japanese Offers Highest Ever Price for a Slice Ethiopian Tobacco Monopoly

Japan Tobacco International, listed as a public company, has pulled the rug from under its competitors, offering a little over half a billion dollars to acquire 40pc of Ethiopias tobacco monopoly.

This offer is not only the highest ever made for any Ethiopian state-owned enterprise, but also doubled the offers of its rival companies, after the bid was opened today, May 19, 2016. American British Tobacco, known for brands such as Rothmans and Dunhill; Phillip Morris International, known for Marlboro and a Chinese company--China Logistics Company Ltd made offers of less than a quarter of a billion dollars. They were among the five bidders participating today, including an individual from Niger.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.