Rieter to start share buy-back on Sept 29

Newswire

ZURICH, Sept 26 (Reuters) - Swiss textile machinery and car-part supplier Rieter Holding AG said on Friday it would start to buy back registered shares worth 50 million Swiss francs ($37.1 million) at most on Monday. The buy-back was due to end on March 16, 2004, it said. The firm plans to cancel the repurchased stock, cutting its equity capital, but cannot formally do so until it gains the necessary approval at its 2004 annual shareholder meeting.

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