Tobacco producer Philip Morris International (PMI) is negotiating a merger with the largest tobacco company Altria Group. In the event of a merger, which will become the largest in the market in three years, the capitalization of the combined tobacco giant will exceed $ 210 billion, Bloomberg reports.Philip Morris confirmed the negotiation information on its website. At the same time, the company did not guarantee that discussions could lead to any agreements. The financial details of a possible transaction were not disclosed, but Bloomberg’s information is likely to be conducted through a stock exchange.At the close of trading, PMI had a capitalization of about 121 billion dollars, Altria – 88 billion. The agency indicates that the merger could be the largest since 2016, when AT&T announced the purchase of Time Warner: then the deal amounted to $ 81 billion.Philip Morris International became a separate company in 2008, before which it was part of the Altria Group. After the separation, Altria (owns the trademarks of Marlboro cigarettes, Black & Mild cigars and Copenhagen and Skoal chewing tobacco) focused on domestic sales, and PMI (in its portfolio L&M, Chesterfield, Philip Morris, Parliament, Bond Street and others) – abroad.Analysts considered a possible reunion expected. According to CNBC, amid a global campaign to combat traditional smoking, market participants are looking for new sources of income, including by investing in electronic cigarettes and tobacco heating systems. For example, at the end of 2018, Altria diversified its portfolio by investing in vaping and cannabis – it bought 45 percent of the Canadian marijuana producer Cronos Group. PMI, in turn, invests billions of dollars in IQOS promotion, products are already represented in 48 countries, according to the manufacturer’s estimates, there are about 11 million device users in the world.