Altria Group May Announce International Unit Spinoff This Week

Altria Group Inc., the world's largest tobacco company, may say this week that it will spin off its Switzerland-based international unit as investors seek overseas growth and reduced exposure to smokers' lawsuits.

The odds that Altria's board will decide to split off Philip Morris International after directors meet Aug. 29 are seven in 10, Filippe Goossens, a Credit Suisse analyst in New York, wrote in a note to investors last week.

``The best case is to spin Philip Morris International,'' Cambiar Investors LLC President Brian Barish said Aug. 10. The Denver-based firm managed $10 billion, including 3.1 million Altria shares, as of June.

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- Posted: 2007-08-27 09:40:32

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