Carrefour launches $600.30mln share buyback

Company had announced its plans for the buyback in April

  
Image used for illustrative purpose. A shopper pushes a trolley outside a Carrefour supermarket in Singapore July 16, 2010.

Image used for illustrative purpose. A shopper pushes a trolley outside a Carrefour supermarket in Singapore July 16, 2010.

REUTERS/Edgar Su

PARIS - French retailer Carrefour said it was launching a share buyback this week for a maximum amount of 500 million euros ($600.30 million), the first time in a decade it has bought back shares.

The company had announced its plans for the buyback in April, citing its solid cash position following a strong performance during the COVID-19 pandemic in its main market, France. 

Carrefour said on Thursday it will hold the shares it buys back with a view to eventually cancelling them. It said the buyback period will start on May 7 and end not later than Nov. 26. ($1 = 0.8329 euros)

(Reporting by Christian Lowe; Editing by Jacqueline Wong) ((christian.lowe@thomsonreuters.com; +33 1 49 49 52 07;))

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