PMI looks set for complete control over Swedish Match despite missed target

Philip Morris International (PMI)’s decision to go ahead with the purchase of all offered Swedish Match shares, despite falling short of its 90% minimum stake threshold, means it may consolidate the Swedish company in its financials and run the business as if it owned 100% of it, according to market analyst Karri Rinta of Handelsbanken Capital Markets.

However, Rinta expects PMI to reach over 90% of its Swedish rival’s shares by 25th November, which would mean it could demand Swedish Match to be delisted and initiate a compulsory redemption process, forcing the remaining shareholders to cash in their shares.

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Antonia Di Lorenzo

Assistant news editor/senior reporter
Antonia is a member of the editorial team and holds a masters degree in Law from the University of Naples Federico II, Italy. She moved in 2013 to London, where she completed a postgraduate course at the London School of Journalism. In the UK, she worked as a news reporter for a financial newswire and a magazine before moving to Barcelona in 2019.

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