Capital News
Deutsche Telekom has set aside €400 million for its first share-buyback programme in connection with its new distribution policy. The share buyback was completed on 3 December. Altogether, according to a statement, in the course of the programme decided by the board in July, 40,000,787 shares were bought on the exchange, corresponding to 0.9% of the registered capital, and withdrawn. This leads to a dividend of €0.70 per share, since the Bonn group wants to keep the total distribution stable in the medium term at around €3.4 billion annually.
GAGFAH has announced it wants to buy back its shares up to a total purchase price of €125 million. That corresponds to 9% of all shares issued. The programme started on 8 December, stated the real estate group. The object of the repurchase is, according to company statements, to reduce the share capital of the Luxembourg-listed residential housing company. Before a buyback programme, Germany’s biggest listed real-estate company ought to have thought about reducing commitments, write JP Morgan analysts.
Qatar Holding has acquired all 6,999,999 shares from a capital increase at HOCHTIEF at an issue price of €57.114 per share, making it the construction group’s second biggest shareholder at 9.09%, after ACS. According to the Essen MDAX group, the capital increase diluted the shares held by ACS to somewhat over 27%. HOCHTIEF took in nearly 400 million Euros from the capital increase, which the group wants to use to expand into new markets. CEO Herbert Lütkestratkötter talked about a strategic partnership that was now to be consolidated.
United Internet is setting up a new share-buyback programme. The internet provider wants to purchase up to 4 million shares (corresponding to 1.67% of registered capital) on the exchange, stated the company on 10 December. The basis is a resolution from this year’s AGM, which once again gave authorization for the repurchase of a maximum of 10% of the registered capital. On the basis of the current share price of €11.60, United Internet would have to spend a good €46 million for that. From past share buyback programmes, the Internet group currently holds some 20 million of its own shares (corresponding to 8.33%).