05:51 AM EST, 03/03/2025 (MT Newswires) -- Philip Morris International ( PM ) is mulling the sale of its cigar business in the US as part of a shift towards smoke-free products, Bloomberg News reported Monday, citing sources familiar with the matter.

The company is looking to fetch over $1 billion for the business and is working with advisers to assess buyer interest, sources told Bloomberg. Sources also said deliberations are still ongoing and there is no guarantee that a sale will push through.

Philip Morris International ( PM ) did not immediately respond to MT Newswires' request for comment.

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