From BigGo Finance · BigGo Finance · · 40s
JT Shares Plummet on Russian Takeover Risk
Japan Tobacco shares hit limit down for second day as Russia controls up to 7 group companies.
In brief
Japan Tobacco shares hit limit down for second day as Russia controls up to 7 group companies. Japan Tobacco shares fell 16% to ¥5,269 after Russia took control of 7 group companies, risking up to ¥1.3 trillion in losses. Originally reported by BigGo Finance.
Shares Hit Limit Down
Japan Tobacco shares fell 16% to ¥5,269 on Nov. 9, down ¥1,000 from previous week's close.
Russian Takeover Trigger
President Vladimir Putin signed a decree on Nov. 6 placing three JT affiliates under Russian management.
Risk of ¥1.3 Trillion Loss
The market prices in potential losses of up to ¥1.3 trillion (about $8.2 billion) and a dividend cut.
The main idea
Japan Tobacco shares fell 16% to ¥5,269 after Russia took control of 7 group companies, risking up to ¥1.3 trillion in losses.
