Philip Morris Parent Altria May Spin Off Kraft
STEVE INSKEEP, host:
In business news, two big addictions - Oreos and cigarettes - may part ways.
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INSKEEP: The parent company of the cigarette giant Philip Morris plans to sell off its food division. Altria - which is the parent company - is expected to announce plans today to spin-off Kraft Foods, the maker of Oreos, Velveeta and other snacks. And the move would allow Kraft, as well as its stock price, to escape the cloud of potential tobacco litigation.
Altria would be able to focus on its tobacco-selling strategy. And for tobacco companies, it's all about strategy as more and more and cities and countries enact smoking bans.
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