Rolls-Royce announces £1bn share buyback

10th Dec 2014 08:09

Rolls-Royce Holdings on Wednesday announced a £1bn share buyback following the completion of the sale of its energy gas turbine and compressor business to Siemens.The aeroplane engine maker said the aim of the buyback is to reduce the issued share capital of the company.The purchases will be managed by Jefferies, who will make trading decisions in relation to the company's securities independently, the group added.