Trade of the Month: British American Tobacco vs Richemont
Which one of these is worth going to BAT for?
Cigarette giant British American Tobacco (BAT) and luxury brands colossus Richemont have an old connection.
Until 2008, Rothmans International was two-thirds owned by Richemont and corporate cousin Remgro (Rembrandt) — both controlled by the Rupert dynasty. Rothmans’ strong and reliable cash flows helped Richemont build the luxury goods brands it has today...