So even if the Indian government decides to sell its stake in ITC and allows FDI in the company to increase, BAT wouldn’t be in a position to buy it. But it can surely partner with a strategic Indian investor with deep pockets – like RIL, Adani or even Baba Ramdev who would be interested in the FMCG business.
Personally, I feel this revelation about BAT has made ITC more of a valuable pick – the Lollapalooza effect enunciated by Charlie Munger.
dis: holding and biased.
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