British American Tobacco wins auction for Turkey's Tekel
British American Tobacco PLC said Friday it had won the auction for Turkish tobacco producer Tekel with a bid of $1.72 billion.
British American Tobacco said Wednesday that it sold 1 percent fewer cigarettes in the first nine months of the year compared to a year ago, but revenue rose thanks to favorable currency movements and the acquisition in August 2009 of PT Bentoel in Indonesia.