Samsung Elec shares up sharply on $2 billion share buyback plan

Reuters News
Posted: Nov 26, 2014 7:11 PM

SEOUL (Reuters) - Shares of South Korean tech giant Samsung Electronics Co Ltd opened sharply higher on Thursday on the news that it will buy back $2 billion of its own stock.

Samsung shares were up 5.8 percent as of (7.02 a.m. EST) after opening 6 percent higher. Samsung announced the buyback plan, its first since 2007, after market close on Wednesday.

(Reporting by Se Young Lee; Editing by Stephen Coates)