RIM buys 2 million shares, completes buyback

OTTAWA (Reuters) - Research In Motion RIM.TORIMM.O said on Wednesday that it has agreed to repurchase 2 million of its outstanding common shares for cancellation under private agreements with a non-related, third-party financial institution.

The BlackBerry smartphone maker said the shares represented about 0.36 percent of its outstanding common shares at April 5. Financial details were not disclosed.

The purchase, combined with the 3.9 million shares that RIM repurchased through the Nasdaq since the start of April, largely completes a $1.2 billion share buyback plan announced November 5 2009.

Waterloo, Ontario-based RIM said in 2009 that it would repurchase up to 21 million shares, or 3.6 percent of its outstanding common shares on Nasdaq.

RIM shares were up nearly 1 percent on Nasdaq at $73.26 and 0.5 percent higher at C$72.91 on the Toronto Stock Exchange on Wednesday.

($1=$1 Canadian)

Reporting by Susan Taylor