THE BOSS of British American Tobacco (BAT) has rejected calls from a top shareholder to relist in New York, stating that moving across the pond was "not a top priority" and a "very simplistic view".

Tadeu Marroco, who was appointed chief executive following the sudden departure of former CEO Jack Bowles in

May, said it is "very simplistic to attribute the valuation gap to the place where we are listed" and emphasised BAT's "well-established base of investors in the UK", as reported in The Times.

It comes after Rajiv Jain, the founder of investment firm GQG Partners, urged BAT to move its main listing from London, calling the firm an "orphan of Europe" in the Financial Times in March.

(c) 2023 City A.M., source Newspaper