November 18, 2019 / 9:40 AM / 3 months ago

O2 Czech Republic keeps up share buyback for second week in November

PRAGUE, Nov 18 (Reuters) - Czech telecoms group O2 Czech Republic acquired 53,907 company shares between Nov. 11-15 at an average price of 223.5 crowns ($9.67) per share, it said on its website, as it was in the market for a second week in a row as part of buyback programme.

O2 Czech Republic’s shares rose 4.1% last week and traded flat at 228 crowns on Monday.

The share acquisitions last week followed the purchase of 32,498 pieces at an average price of 218.8 per share in the prior week. In total, O2 Czech Republic has acquired 9.01 million shares under the programme, out of 310.2 million outstanding.

At the end of August, the company, 81% owned by the Czech Republic’s richest businessman Petr Kellner’s PPF Group, made its first own share purchases under the buyback programme since 2017.

It has been in the market infrequently since then.

$1 = 23.1240 Czech crowns Reporting by Jason Hovet

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