Altria's Chief Executive Louis Camilleri said the group could be split into two or three companies as early as the middle of 2005. The group spun off 15% of Kraft two years ago, but it believes that Kraft's stock remains undervalued due to its connection to the former Philip Morris, and subsequent fears that it faces a liability from ongoing tobacco litigation.
Kraft May Split From Altria
January 10, 2005
A recent report in the Chicago Tribune indicates that Altria Group, the parent company of Kraft Foods, is considering a split that would separate Kraft from the company's tobacco holdings.