FRANKFURT, Feb 12 (Reuters) - Germany’s second largest software maker, Software AG, will start buying back shares worth up to 180 million euros ($240.82 million) commencing Tuesday, the company said late on Monday.
“Based on the Xetra closing rate (on Feb. 11), this equates to a volume of up to ca. 6.175 million shares,” it said in a statement.
It added that the executive board can at any time suspend and resume the share buyback programme, which was announced on Thursday. ($1 = 0.7474 euros) (Reporting By Christiaan Hetzner; editing by Andrew Hay)