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Abstract:BERLIN (Reuters) – Mercedes Benz said on Thursday that it plans to buy back up to 4 billion euros ($4.28 billion) of its shares by 2025 and that shareholders Beijing Automotive Group and Geely have agreed to keep their stakes in the company below 10%.
BERLIN (Reuters) – Mercedes Benz said on Thursday that it plans to buy back up to 4 billion euros ($4.28 billion) of its shares by 2025 and that shareholders Beijing Automotive Group and Geely have agreed to keep their stakes in the company below 10%.
The carmaker said it will cancel all of the shares repurchased during the programme which will start next month. It said Beijing Automotive Group and Geely will keep their stakes below 10% by divesting their shares on a pro-rata basis concurrently with the share buyback.
($1 = 0.9354 euros)
(Reporting by Riham Alkousaa; Editing by Susan Fenton)
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