EU regulators to decide on Philip Morris, Swedish Match deal by Oct. 11

Philip Morris CR as

06/09/2022 15:46

BRUSSELS, Sept 6 (Reuters) - European Union antitrust
regulators have set Oct. 11 as a deadline for their preliminary
review of Philip Morris International Inc's  PM.N  $16 billion
bid for tobacco and nicotine products maker Swedish Match
 SWMA.ST , a European Commission filing showed on Tuesday.
    Philip Morris announced the proposed takeover in May that
would cut its dependence on cigarettes and boost its presence in
the fast-growing market for cigarette alternatives.  urn:newsml:reuters.com:*:nL5N2X319M
    The EU competition enforcer can clear the deal with or
without remedies at the end of its scrutiny or it can open a
four-month-long investigation if it has serious concerns.
     Swedish Match generates the bulk of its profit from
Swedish-style moist snuff called "snus".

 (Reporting by Foo Yun Chee; editing by Jonathan Oatis)
 ((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))