ComHem's board greenlit plans to repurchase up to 450 millionSwedish kronor of its shares, according to a July 12news release.
Under the share buyback program, shares will be repurchasedin cash from July 13 to Nov. 30. A maximum of 18 million shares may berepurchased, and Com Hem should not own more than 10% of the company'soutstanding shares.
The Swedish operator has about 192.9 million shares, ofwhich it owns about 1.22 million.
Com Hem shareholders authorized the shares repurchase duringtheir May 19 annual general meeting.
As of July 12, US$1was equivalent to 8.52 Swedish kronor.