Millenium Tobacco is technically insolvent with liabilities outstripping assets, and will likely be liquidated, the Zimbabwe Herald reported.

Millenium, which has ties to former shareholders of Zimbabwe Tobacco Auction Centre, had liabilities of USD 4.3 million (EUR 3.4 million) and assets of USD 1.8 million as of 31 Oct, according to a financial statement cited by the newspaper on its website. Creditors were to meet to discuss the situation, the newspaper reported. (pi)