Tesco to repurchase shares worth $515 million in second tranche of buyback programme

FILE PHOTO: A Tesco store Weybridge, Britain·Reuters
Reuters

LONDON (Reuters) - Tesco, Britain's biggest supermarket group, said on Monday it would continue its share buyback programme with a plan to repurchase shares with a market value of up to 400 million pounds ($515 million).

A previous tranche of the programme that bought back shares worth about 350 million pounds ended on Friday.

In April, Tesco said it would buy back a further 1 billion pounds' worth of shares over the next year.

($1 = 0.7770 pounds)

(Reporting by James Davey, Editing by Kylie MacLellan)