The Traderszone Network

Published in TZ Latest News 30 September, 2014 by The TZ Newswire Staff

Adidas to buy back shares worth up to 1.5 billion euros

German sportswear maker Adidas, facing investor discontent over its underperforming share price, announced a plan on Wednesday to buy back up to 1.5 billion euros ($1.89 billion) in shares over the next three years. Adidas said in a statement the shareholder return program would be predominantly financed from the group’s free cash flow, adding share buybacks would start in the fourth quarter and be completed by Dec. 31, 2017.

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