UniCredit to Start First Tranche of $2.7 Billion Buyback This Week
11 Mai 2022 - 07:58AM
Dow Jones News
By Cristina Roca
UniCredit SpA said late on Tuesday that it is launching the
first tranche of its buyback in respect of 2021 this week.
The Italian lender will buy shares worth up to 1.58 billion
euros ($1.66 billion), equivalent to up to about 9.84% of its
shares. The buyback is expected to conclude by the end of July. The
shares bought as part of the operation will be cancelled.
A second tranche of the buyback, worth another EUR1 billion,
remains subject to UniCredit's performance in Russia, the bank said
last week during first-quarter earnings reporting.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
May 11, 2022 01:43 ET (05:43 GMT)
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