Telenet to buy back shares

Belgium’s largest cable operator Telenet has revealed plans to take on up to €700 million in debt and use the money to buy back shares.

“Telenet … intends to implement a shareholder remuneration policy consisting mainly of share repurchases…..Telenet believes that the combination of the adjustment to the capital structure and the revised shareholder remuneration will allow for a more efficient balance sheet.”

The company added it does not see itself making any major acquisitions in the foreseeable future.