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Image header Agence Europe
Europe Daily Bulletin No. 8557
Contents Publication in full By article 24 / 36
GENERAL NEWS / (eu) ue/competition

Green light for Papastratos buy out by Philip Morris

Brussels, 06/10/2003 (Agence Europe) -The Commission ahs authorised the Philip Morris the Dutch subsidiary of the Altria Group, Inc. It is a global company active in the manufacturing and selling of cigarettes under a number of brands, including Marlboro, L&M and Philip Morris. Papastratos is a Greek company, which also makes and distributes cigarettes mainly in Greece and Romania. Its best-known products include Assos and President. Whilst Philip Morris will become the market leader on the Greek cigarette market, the Commission's investigation did not reveal serious competition concerns especially as Philip Morris's products are not on the same price segment as Papastratos's brands.

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