Altria
on Friday said it’s looking to end its noncompete agreement with Juul, the e-cigarette maker in which it owns a stake. This will give the maker of Marlboro cigarettes a chance to start up its own vaping brand.
Altria
(ticker: MO), which invested in Juul about four years ago, said in a 8-K filing to the Securities and Exchange Commission that it has exercised its option to permanently terminate its non-competition obligations to JUUL, losing the right to the board designation and significantly reducing its voting power.
Source: https://www.barrons.com/articles/altria-rival-juul-51664544506?siteid=yhoof2&yptr=yahoo