Reinet’s tobacco habit is on the wane
For the first time since listing in 2008, Reinet's core holding in British American Tobacco is down to less than 50%
23 July 2019 - 18:27
Reinet, the international investment company controlled by the Rupert family, has — for the first time since listing in 2008 — seen its core holding in British American Tobacco (BAT) filtered down to less than 50% of the net portfolio value.
The significant change in portfolio balance might help dispel lingering market contentions that Reinet is merely a proxy for BAT — especially with the value of its second biggest investment, UK-based financial services group Pension Insurance Corporation (PensCorp), continuing to grow steadily...
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