February 19, 2018 / 2:41 PM / 2 years ago

Russia's Magnit says size of any share buyback could be up to $200 mln - Ifax

MOSCOW, Feb 19 (Reuters) - Russia’s Magnit said on Monday that the size of any share buyback could be up to $200 million, the Interfax news agency cited the company’s new CEO, Khachatur Pombukhchan, as saying.

The firm said on Friday it would consider a buyback this year.

Businessman Sergey Galitskiy said last week he had stood down as CEO at Magnit and sold most of his stake to state lender VTB for about 138 billion roubles ($2.5 billion), bringing Kremlin influence into the retail sector for the first time. (Reporting by Polina Ivanova; Writing by Andrew Osborn; Editing by Polina Ivanova)

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