MMK Considers Share Buyback

01.10.2008 (16:38)

Magnitogorsk Iron and Steel Works (MMK) does not rule out the possibility of buying back its own shares in favor of one of its subsidiaries.

The move may be taken in light of the company's view that its shares are significantly undervalued, due to external macroeconomic factors unrelated to the company's fundamental indicators, RBC reports.

The term and the size of the buyback will depend on market conditions and MMK share prices, the company said.

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