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The net combined effect of cigarette smuggling is a revenue loss of more than $4.7 billion per year

In 1978, B&W discontinued production of Fact cigarettes, as the brand failed to meet the companys sales expectations (2)

Its gross

Analysis: Dominic O'Connell, Today business presenter This is the biggest foreign deal by a British company in recent years, and flies in the face of the prevailing, post-Brexit wisdom that a weak pound would stop British companies buying foreign rivals

BAT said the approval challenges have led to an influx of illegal Chinese products, which has weighed on its sales and market share