Altria Plans $2 Billion Sale of AB InBev Stock
TL;DR Summary
Altria Group, the parent company of Marlboro cigarettes, is selling over $2 billion worth of its stake in Anheuser-Busch InBev, with AB InBev planning to buy back $200 million of these shares. This move has caused a 5% drop in AB InBev's stock price, with analysts seeing it as a short-term negative for sentiment but of minimal longer-term significance.
Topics:business#altria-group#anheuser-busch-inbev#businessfinance#buyback#market-performance#stock-sale
- Marlboro maker Altria to sell over $2B in AB InBev stock Yahoo Finance
- Altria Raises $2.4 Billion From AB InBev Shares, Plans Buyback Yahoo Finance
- Marlboro maker to sell $2.3 billion worth of Bud Light maker’s stock MarketWatch
- Altria plans to sell 35M Anheuser-Busch InBev shares Virginia Business Magazine
- Budweiser owner AB InBev slides 4% after trading suspension as Altria sells stake CNBC
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