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Philip Morris Parent Altria May Spin Off Kraft

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Philip Morris Parent Altria May Spin Off Kraft

Business

Philip Morris Parent Altria May Spin Off Kraft

Philip Morris Parent Altria May Spin Off Kraft

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The parent company of cigarette giant Philip Morris — Altria — is expected to announce plans to spin off Kraft Foods. The move would allow Kraft and its stock price to escape the cloud of potential tobacco litigation. Altria would be able to focus on a strategy to sell tobacco.

STEVE INSKEEP, host:

In business news, two big addictions - Oreos and cigarettes - may part ways.

(Soundbite of music)

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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