The German brewer, Brau und Brunnen, has said it plans to buy back 10% of its capital by the end of December 2004.
The company, in which the German banking group, HVB, owns a majority stake, also revealed that it bought back 9.8% of its share capital in a previous share buyback programme.
HVB itself is planning to sell its 55.6% stake in the brewer.
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