Seeking Alpha

Siemens begins €4B share buyback

  • Siemens (SI) starts a stock-repurchase program worth up to €4B ($5.5B), with the German conglomerate set to buy as many as 47.8M shares by October 31, 2015.
  • Siemens announced the plan in November but put it on hold, as it was formulating a restructuring plan.
  • The company has received the backing of German Chancellor Angela Merkel in its attempt to acquire Alstom's (ALSMY) power business. However, Merkel also said the decision is a corporate one and so she "will not get involved in that." French President Francois Holland said his government is still waiting for Siemens to makes a detailed offer.
  • Shares are +1.2% premarket.
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Comments (1)
  • akwils
    , contributor
    Comments (87) | Send Message
     
    SI will be a long term buy as long as they don't get involved with Alsthom. Only the fools invest in France.
    13 May 2014, 02:59 AM Reply Like
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