January 19, 2012 / 11:03 AM / in 6 years

KGHM shareholders reject $885 mln buyback, shares drop

LUBIN, Poland, Jan 19 (Reuters) - Shareholders at Europe's No.2 cooper producer KGHM rejected a proposed 3 billion zloty ($884.7 million) share buyback, defying expectations that Poland, which controls it, would back it as it previously indicated.

The state-controlled miner wanted to buy up to 10 percent of its shares at less than 190 zlotys per share.

KGHM shares fell as much as 8 percent after the vote. (Reporting by Wojciech Zurawski; writing by Adrian Krajewski)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below