Romanian Banca Transilvania To Buy Back 0.67% Stake
Romanian lender Banca Transilvania (TLV.RO) plans to buy back 0.67% of its shares in the first half of 2012, for an estimated 10.32 million lei (EUR2.4 million), under an employee loyalty program.
The operation will unfold between January 4 and June 30, 2012 and it will refer to 12 million shares, according to a memo posted on the Bucharest bourse.
The decision was made by bank management based on a shareholder approval issued in April.
Banca Transilvania shares were trading up 2.1% in mid-session Thursday.
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