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Ferrari buys back €7M worth of shares

Ferrari NV said Jan. 10 that it bought back 78,055 of the company's common shares Jan. 2-10 on the Italian Stock Exchange.

The transaction is the first tranche of Ferrari's €1.5 billion share buyback program, announced Dec. 28, 2018. The company plans to undertake the initial repurchase of €100 million worth of shares from Jan. 1 to June 27.

Ferrari paid an average of €90.69 per share for a total consideration of €7 million.