Dutch TNT completes 83.5 pct of share buyback
Dutch mail and logistics group TNT NV has completed 83.5 pct of its share buyback programme, the company said on March 29, 2006.
TNT bought back 31,119,752 shares in the period December 6, 2005 to March 28, 2006 at an average price of 26.82 euro ($32.18) each.
The company bought back 260,000 own shares on March 28, 2006 at an average price of about 28 euro ($33.6) per share.
TNT (www.tnt.com) 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. That period is now extended by one month.
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