ATHENS - Hellenic Telecommunications Organization S.A. (OTE) has announced the completion of a share buyback program that took place from Monday to Friday last week. The company, a major telecommunications provider in Greece, repurchased a total of 228,198 of its own shares.
The buyback was part of OTE's Own Share Buy Back Programme for 2024 and was conducted over the course of five trading days, from December 2 to December 6, 2024. The total amount invested by OTE for this buyback reached €3,426,993.72, with an average purchase price per share of €15.01763. The lowest and highest prices paid per share during the buyback period were €14.83 and €15.20, respectively.
As a result of this transaction, OTE now holds 6,277,889 of its own shares, which represents 1.521% of its total outstanding shares. This move is in accordance with the regulatory framework established by the European Union, specifically Regulation (EU) No 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.
The company has not disclosed any further details regarding the strategic intent or future plans for the repurchased shares. Share buybacks are a common practice used by companies to return value to shareholders, potentially increase earnings per share, and show confidence in the company's financial health.
This information is based on a press release statement from OTE and has been announced through RNS, the news service of the London Stock Exchange (LON:LSEG). The company's investor relations team can be reached for further information, although no additional details were provided in the press release.
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