Dutch TNT completes 1.0 bln Euro share buyback
Dutch mail and logistics group TNT NV has completed its 1.0 bln euro ($1.234 bln) share buyback programme which it announced on December 6, 2005, the company said on April 20, 2006.
TNT bought back 360,297 own shares at an average price of 28.86 euro ($35.62) per share on April 19, 2006, bringing the total amount spent to 999 mln euro ($1.232 bln).
In the course of the programme TNT repurchased some 36.8 million shares at an average price of 27.18 euro ($33.55). The company initially expected to buy back 42.6 million shares. TNT’s share price has jumped by 23 pct since the announcement of the share buyback programme.
TNT (www.tnt.com) said it will cancel all repurchased shares.
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