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BMW to start 2 billion euro share buyback programme in July

Published 06/30/2022, 07:29 AM
Updated 06/30/2022, 07:31 AM
© Reuters. FILE PHOTO: The BMW logo is seen during the 2016 New York International Auto Show in Manhattan, New York, March 24, 2016. REUTERS/Eduardo Munoz

BERLIN (Reuters) - Germany's BMW approved the launch of a share buyback programme with a volume of up to 2 billion euros ($2.08 billion) set to start in July, the carmaker said on Thursday.

The bulk of the amount is attributed to ordinary shares - 1.85 billion euros - while the rest will be in preferred shares.

© Reuters. FILE PHOTO: The BMW logo is seen during the 2016 New York International Auto Show in Manhattan, New York, March 24, 2016. REUTERS/Eduardo Munoz

The programme is to be completed no later than December 31, 2023, according to BMW, which said further details would be announced before it is set to begin.

($1 = 0.9612 euros)

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