October 30, 2008 / 3:24 PM / in 9 years

TransAlta halts share buybacks to conserve cash

CALGARY, Alberta, Oct 30 (Reuters) - TransAlta Corp (TA.TO) said on Thursday it has decided to suspend its share repurchase program until at least January to maintain flexibility during the financial turmoil sparked by the credit crisis.

The company had promised to use C$200 million ($164 million) in proceeds from the recent sale of its Mexican power-generation assets to pay for the program. ($1=$1.22 Canadian) (Reporting by Scott Haggett; Editing by Peter Galloway)

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