TPSA to launch 700 mln zlotys share buyback on June 14 UPDATE |
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Published
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Wed, 13 Jun 2007 08:13
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(Adds quote from analyst)WARSAW (Thomson Financial) - Leading polish telecom TPSA will launch a 700 mln zlotys share buyback on June 14, the company said in a statement.The company said it wanted to complete the buyback by the end of this year and that the program will not exceed 5 pct of the overall TPSA shares.France Telecom, TPSA's strategic investor with a 47.5 pct stake, said it does not plan to participate in the program.'All in line with expectations, but the kick-off of the buyback may provide the support to TPSA's share price,' DM BZ WBK analyst Pawel Puchalski said. 'If the buyback is run at full scale ... TPSA may complete the program by 13 August'.On Tuesday TPSA shares closed 0.6 pct lower at 21.62 zlotys, valuing the company at 30.3 bln zlotys.adrian.krajewski@thomson.com +48 22 4472434ak1/jfrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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TPSA to launch 700 mln zlotys share buyback on June 14 