Exclusive-EU to approve Philip Morris’ Swedish Match deal following asset sale

© Stocksak. FILE PHOTO – A Philip Morris logo is displayed on a factory in Serrieres, Switzerland, December 8, 2017. REUTERS/Denis Balibouse

BRUSSELS (Stocksak). EU antitrust regulators will reject Philip Morris International Inc’s $16 billion bid to acquire Swedish Match. It had offered to sell the logistics unit of the Marlboro maker, according people familiar with this matter.

Philip Morris announced the deal in May to expand its presence on the fast-growing market of cigarette alternatives. The concession was submitted to the European Commission in early February.

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