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Adidas to buy back €800M of shares in 2019

Adidas AG announced on Monday that it plans to repurchase its shares worth up to €800 million in 2019 as a part of its multi-year buyback program.

The sportswear manufacturer first announced the repurchasing program in March 2018 and noted it intends to buy back up to €3 billion worth of shares by 2021. In 2018, the company repurchased 5.1 million shares for €1 billion, with the average price per share at €196.45.

Adidas reiterated its plans to cancel most of the repurchased shares and reduce its share count and stock capital, noting it already canceled 8.8 million treasury shares in October 2018.

Breaking the News / NP