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) ((email@example.com; +33 1 49 49 52 07;))