The Marlboro maker, Altria, has announced plans to sell a significant portion of its stake in AB InBev, the producer of Bud Light, amounting to approximately $2.3 billion (£1.7bn). This decision comes in the wake of a sales decline for AB InBev, attributed to a controversial ad campaign featuring a transgender influencer. The sale has led to a notable drop in Bud Light's stock value, with discussions around Altria potentially selling its entire stake in the company. The market's reaction to these developments has been mixed, with stock values fluctuating in response.
AB InBev slides after trading suspension as Altria sells stake https://t.co/CxXkwaCfKy
Altria’s Sale of Anheuser-Busch Stock Is Smart. It Should Unload the Whole Stake. https://t.co/fDVC1t8p6x
🔴 The owner of Marlboro cigarettes is to sell $2.2bn (£1.7bn) of shares in AB InBev after the Bud Light brewer’s sales fell following a backlash over an ad campaign featuring a transgender influencer https://t.co/oxaypqGUKU
Marlboro maker to sell $2.3 billion worth of Bud Light maker’s stock https://t.co/xLMAnDe2qf
stocks are down
stocks are up
Bud Stock Drops. A Major Shareholder Is Selling Down Its Stake. https://t.co/tiEjrWoMJd
Marlboro man sells $2.2bn stake in Bud Light-maker https://t.co/4SgJoHsh3g
Time to buy stocks