(Reuters) – British American Tobacco plans to sell some of its stake in India’s ITC as soon as this week, Bloomberg News reported on Monday, citing people with knowledge of the matter.
The stake sale would allow the maker of Dunhill and Lucky Strike cigarettes to pay down its debt and move faster towards the leverage range at which it could resume share buybacks.
(Reporting by Richard Rohan Francis in Bengaluru; Editing by Tasim Zahid)
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