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Rio Tinto completes two thirds of buyback

By Oliver Haill

Date: Monday 12 Nov 2018

(Sharecast News) - Rio Tinto has completed a A$2.87bn (US$2.1bn, £1.6bn) off-market share buyback to cancel 2.41% of the group's issued shares.

The FTSE 100 group announced in September that is would carry out a US$3.2bn share buyback to return the proceeds from the sale of its coal assets.

The off-market buyback of 41.2m shares was completed at a 14% discounted price of A$69.69 per share.

All shares purchased will be cancelled, the company said.


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