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Spain's Altadis raises cigarette prices

Wed Jan 9, 2008 3:06am EST

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MADRID, Jan 9 (Reuters) - Franco-Spanish tobacco company Altadis ALDS.PA ALT.MC on Wednesday raised its cigarette prices by 0.10 euros a packet, Spain's official government bulletin reported.

A pack of Altadis' Fortuna and Nobel brands will now cost 2.50 euros, according to the government register.

The increase compares with a rise of between 5 and 25 cents in Altadis cigarette prices at the start of 2007.

Altadis is currently subject of a takeover bid by Britain's Imperial Tobacco (IMT.L).

Main rival and market leader Philip Morris, a unit of Altria Group Inc (MO.N), increased Spanish prices of various brands including Malboro, between 5 and 10 cents last week.

(Reporting by Robert Hetz; Translating by Andrew Hay)



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