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Kingfisher to repurchase up to £50M shares

Kingfisher PLC on May 24 launched a share repurchase program to buy back up to £50 million of its shares for cancellation.

The British retail company said the program, which ends July 27, is part of its plan to reduce the company's share capital.

The announcement follows the completion of Kingfisher's previous buyback program, in which it bought back £40 million of its shares.

Barclays Capital Securities Ltd. will act as the retailer's principal for the simultaneous on-sale of the shares.