Between the 17th of November and the 30th of December French luxury giant LVMH will buy back a variable number of their shares at a price not higher 300 Euros for a total investment of 300 million Euros. Once completed the buy-back, which was announced by the company in a press release, the shares will be cancelled. With this manoeuvre, LVMH tries to avoid any bad surprises from the stock market and lays the foundation for an appreciation of the share price, and higher financial revenues.
LVMH, prudence is never enough: the group buys back 300 million of its own shares and cancel them
