UniCredit Says Second Part of 2021 Buyback Gets Green Light From ECB
August 31 2022 - 3:01AM
Dow Jones News
By Maitane Sardon
UniCredit SpA said the European Central Bank has authorized the
execution of the second tranche of its 2021 share buyback program
for a maximum amount of 1 billion euros ($1 billion).
The second part would bring the total buyback in 2021 to around
EUR2.58 billion, the Italian bank said Wednesday.
It added the start of the share repurchase is dependent on
shareholder approval at a meeting on September 14.
After Russia's invasion of Ukraine, UniCredit had said its
buyback program could be curtailed depending on the extent of the
impact from its Russian exposure. In May, it said the first part of
the buyback would go ahead, but that the second one was subject to
its performance in Russia.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
August 31, 2022 02:46 ET (06:46 GMT)
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