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Empresas y finanzas

Nike approves new $8 billion share repurchase program


    (Reuters) - Nike Inc , the world's largest sportswear maker, said it has approved a new $8 billion program to repurchase shares of its Class B common stock.

    The new four-year share repurchase plan will commence once the company's current $5 billion share buyback program is completed during the second quarter of fiscal 2013, Nike said.

    "Over the past 10 years, Nike has returned $10 billion to shareholders through the repurchase of more than 167 million shares," Chief Executive Mark Parker said in a statement.

    (Reporting by Sakthi Prasad in Bangalore; Editing by Chris Gallagher)