ROME (dpa-AFX) - UniCredit S.p.A. (UCG), an Italian banking group, said on Friday that it has approved second share repurchase program to acquire ordinary shares of up to 110 million, for the total amount not exceeding 651.57 million euros.
The share buyback will commence on December 13 and may be completed in the first quarter of 2022, the company said in a statement.
For the of execution of the second share repurchase drive in 2021, UniCredit said it has engaged J.P. Morgan AG as qualified third-party broker which will decide on the stock purchases in full independence, also in relation to the timing of the transactions and in compliance with the daily price and volume limits and the terms of the program.
Under first share buyback program this year, the Milan-headquartered lender repurchased 17.41 million shares for a total consideration of 178.68 million euros.
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