The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move reflecting management confidence in the stock's value, Prosus (0A28.L), the owner of Just Eat Takeaway and iFood, announced a $5 billion share buyback plan while also pursuing outright acquisitions and minority stakes, according to a Wall Street Journal report.
The announcement comes as the stock trades near recent levels, closing at $37.30 on June 26, within a range of $36.91–$37.90, per market data. Such large-scale buybacks are uncommon in the tech investment sector, signaling that management sees the shares as undervalued and is committed to returning capital to shareholders.
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Sign InInvestors will watch the execution of the buyback program in the coming months, as well as any news of new acquisitions. Attention will also be on the performance of portfolio companies like Just Eat Takeaway and iFood, which could see strategic moves that enhance returns.