Home » Ok buyback UniCredit, Orcel to shareholders: ‘we have very solid financial and strategic foundations’

Ok buyback UniCredit, Orcel to shareholders: ‘we have very solid financial and strategic foundations’

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“We have a very solid financial and strategic foundation”. So said UniCredit number one, Andrea Orcel, during the meeting on the second tranche of the buyback. Orcel stressed that “the successful completion of the 2021 shareholder distribution programs

represents a further step towards the realization of our UniCredit Unlocked strategy and our financial ambitions, generating strong returns and creating value for shareholders ”. The UniCredit shareholders’ meeting has given an overwhelming majority authorization to the second tranche of one billion euros of the buyback program. 99.34% of the share capital present at the meeting voted in favor, equal to 63.99% of the total share capital.

During the shareholders’ meeting, Orcel stressed that “the approval (of the shareholders) is necessary to allow the 2021 share buyback program to be completed for the remaining part, equal to 1 billion euros, as the amount of the shares for which the shareholders’ meeting of 8 April 2022 authorized the purchase is not sufficient, considering the evolution of the price of Unicredit shares due to the macroeconomic and geopolitical context “.

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