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Thomson Reuters buyback to focus on discounted London shares
Posted on June 05, 2008
Thomson Reuters Corp. received approval from the Toronto Stock Exchange yesterday to renew its ongoing $500-million share buyback program and allow it to purchase shares on both its North American and London listings.The two sets of shares are not transferable and the London listing is still trading at a 16% discount to its counterparts in Toronto and New York.However, UBS analyst Jeff Fan believes the company will continue focusing on the London shares, due to the niggling discount. Thomson Reuters has bought back about $300-million worth of the European stock over the past six weeks, he said...
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