TIM (TIMB) on Wednesday said its board approved a new share buyback program to repurchase up to around 67.2 million shares.
The telecommunications company said it was authorized to use up to 1 billion Brazilian reais ($173.6 million) for the share repurchases. TIM also said that the previous buyback program was terminated.
TIMB shares were over 1% higher in recent trading.
Price: 14.95, Change: +0.23, Percent Change: +1.56
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