August 30, 2019 / 3:24 PM / 20 days ago

O2 Czech Republic buys back shares first time since 2017

PRAGUE (Reuters) - Czech telecoms company O2 Czech Republic (SPTT.PR) acquired 95,848 own shares at an average price of 213.2 crowns ($9.20) per share in the week of Aug. 26-30, it said on its website on Friday, the first purchases under a buyback program since December 2017.

The company’s head of investor relations, Jakub Hampl, did not comment on the reasons for the share purchases or on plans in the coming weeks. He said the company has said in its annual report it evaluates market price, liquidity and financing needs.

“Based on these analyses we decided we would continue,” Hampl said.

Reporting by Jason Hovet

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