BAT considering partial sale of stake in India's ITC

(Sharecast News) - British American Tobacco responded to press speculation overnight on Monday, confirming it was mulling a divestment of a portion of its stake in listed Indian tobacco firm ITC. The FTSE 100 company confirmed that it was considering a potential sale of a small portion of its shareholding in ITC through an on-market block trade.

"There can be no certainty that any such transaction will proceed, nor can there be any certainty as to the terms of any potential transaction," BAT cautioned in its statement.

"A further announcement will be made if and when appropriate."

Reporting by Josh White for Sharecast.com.