Philip Morris spin-off to unlock value - Barron's
Sun Mar 30, 2008 3:04pm EDT
NEW YORK, March 30 (Reuters) - The spin-off of Philip Morris International PM.N by its parent Altria (MO.N: Quote, Profile, Research) will benefit investors in both companies, particularly the new Altria, Barron's reported on Sunday.
The new Altria will have room to cut costs and raise profit margins, the weekly paper said.
It said most of its opportunity lies in the developing world, where a young and growing population may gravitate toward Marlboro and other key brands.
Barron's said the biggest prize is China where Philip Morris is on the verge of bringing Marlboro, which the paper said has estimated cigarette sales of $100 billion, versus $70 billion in the United States. (Reporting by Yinka Adegoke; Editing by Tom Hals)
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