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On 13 March 2024, the Group announced the completion of the disposal of 436.9 million ordinary shares representing c.3.5% of ITC's total issued ordinary share capital and roughly 12% of BAT's investment, resulting in a gain of 1,361 million
Thats a lot of money, but it pales in significance to the 1993 advertising budget of the tobacco industryabout $5.2 billion MD Andersons Acceptance of Research Funding by the Tobacco Industry, 1995 (07:08) Investigative news story by City Under Siege reporter Ned Hibberd Fox-26 News (KIRV), Houston, Texas 1995 Ned Hibberd, KIRV-TV reporter: There was a time when that connection [between cigarette smoking and cancer] wasnt well understood and when advertisements on the back of LIFE Magazine could claim More Doctors smoke Camels than any other cigarette. In those days, tobacco companies could downplay the health risks of smoking by associating their names with the medical establishment
These industry tactics are a diversion designed to keep us from looking at the industrial-scale pollution inherent in their business model
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