TNT completes half of share buyback
Dutch mail and logistics group T N T NV has completed half of its share buyback programme, launched on December 6, 2005, the company said on February 15, 2006.
TNT plans to cancel the repurchased shares.
The company announced in December 2005 its plans to buy back own shares for 1.0 bln euro ($1.2 bln). The company said then it expected the share buyback programme to involve 42.6 million shares and to take about four months.
TNT bought back 19,992,752 shares at an average price of 26.33 euro ($31.36) each in the period December 6, 2005 to February 14, 2006. The total amount spent on the share buyback stood at 526 mln euro ($626.4 mln).
TNT ( www.tnt.com ) bought back 255,000 own shares on February 14, 2006 at an average price of 27.6 euro ($32.9) per share.
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