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IN BRIEF: Tesco launches second tranche of £750 buyback programme

ALN

Tesco PLC - Welwyn Garden City, England-based grocer - Launches a second tranche of its £750 million share buyback programme, worth up to £200 million, after completing a £350 million tranche on June 18. The supermarket group says it repurchased 76.6 million shares between April 16 and Thursday last week. Banco Santander SA will conduct purchases on Tesco’s behalf, with all shares acquired under the programme to be cancelled. Tesco says the buyback’s sole purpose is to reduce its share capital.

Current stock price: 450.30 pence

12-month change: up 12%

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