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Adidas to buy back up to 9% of share capital, worth $3.7 bn, by 2021

After a strong performance in 2016 and first half of 2017, Adidas shares have fallen 15% in the past six months

Reuters  |  Germany 

Adidas plans to buy back up to 3 billion euros ($3.72 billion) of its shares by May 11, 2021, representing almost 9 per cent of its share capital, it said on Tuesday, including up to 1 billion euros this year. The German sportswear company, which has a market capitalisation of about 35 billion euros, said it ‍intends to cancel most of the repurchased shares and will finance the buyback with current net cash and through its expected strong cash flow in coming years. After a strong performance in 2016 and first half of 2017, Adidas shares have fallen 15 per cent in the past ...

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First Published: Wed, March 14 2018. 08:34 IST
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