Reckitt launches third tranche of GBP1 billion buyback

(Alliance News) - Reckitt Benckiser Group PLC on Monday said it is starting the third tranche of its GBP1 billion buyback programme announced in July, worth up to GBP540 million.

The Slough, England-based consumer goods company said it has partnered with the London branch of Deutsche Bank AG to manage the third instalment of the programme, and that all repurchased shares will be held in treasury.

Reckitt said it expects this tranche of the buyback to end no later than July 27.

Reckitt shares were down 1.4% to 5,502.00 pence each on Monday morning in London.

By Martin Miraglia, Alliance News reporter

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