Telefonica O2 CR buys back 2% of shares

3 Dec 2012

Czech incumbent Telefonica O2 CR has completed a buyback of 2% of its shares for CZK2.48 billion (USD126.76 million) Reuters reports. The telco, a division of Telefonica of Spain, added that its management board has not yet reached a decision on whether to continue the buyback programme – approved in April this year – which allows for the purchase of up to 10% of its shares. Telefonica O2 CR is faced with stagnating revenue and profit growth, a decline in its core fixed line business and falling prices for mobile services. However, it has low levels of debt and strong cash flow and in May this year said it might repeat buybacks or capital reductions in the years ahead if it made economic sense.

Czech Republic, O2 Czech Republic (incl. CETIN)