British American Tobacco boss says no to ditching London itemizing

On Mar 17, 2024

Updated: 21:50, 17 March 2024

The boss of British American Tobacco says swapping its London itemizing for New York could be a ‘distraction’ and isn’t on the playing cards.

In a lift for the City, Tadeu Marroco, chief government of the corporate behind Lucky Strike and Dunhill cigarettes, dismissed the concept of shifting the FTSE 100 group’s major itemizing to the US.

Marroco informed the Financial Times {that a} transfer ‘would create a variety of distraction internally’, and he was ‘unsure the profit could be as evident as some recommend’.

Staying put: Tadeu Marroco dismissed the idea of shifting the FTSE 100 group's primary listing to the US

Staying put: Tadeu Marroco dismissed the concept of shifting the FTSE 100 group’s major itemizing to the US

BAT shares have slumped by over a fifth prior to now yr, giving it a valuation of round £52billion.

But Marroco mentioned his consideration shouldn’t be on a transfer. ‘I do not assume we ought to be centered on this,’ he mentioned.

Some hyperlinks on this article could also be affiliate hyperlinks. If you click on on them we could earn a small fee. That helps us fund This Is Money, and hold it free to make use of. We don’t write articles to advertise merchandise. We don’t enable any industrial relationship to have an effect on our editorial independence.