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Adidas begins 2nd tranche of €3B buyback program

Adidas AG has begun the second tranche of its multiyear share repurchase program.

The German shoemaker intends to buy back about €800 million of shares in 2019, and up to €3 billion by May 2021. It said it would cancel the majority of the acquired shares.

Adidas announced the completion of the first tranche of the program Dec. 13, 2018, repurchasing 2.5% of its share capital for €1 billion.