March 16, 2020 / 1:27 PM / 16 days ago

Freight-forwarder DSV Panalpina suspends share buyback, withdraws 2020 outlook

COPENHAGEN (Reuters) - Danish freight-forwarder DSV Panalpina (DSV.CO) on Monday suspended its share buyback program and withdrew its 2020 outlook until further notice due to the negative impact from the coronavirus on the global transport sector, the firm said.

DSV said it was unable to “accurately assess the magnitude of this short-term impact and we thus withdraw our outlook for 2020 pending further clarification of the market developments and the actual financial impact on our business”.

Reporting by Nikolaj Skydsgaard, editing by Louise Heavens

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