Europe’s largest cigarette maker, British American Tobacco (BAT), has resumed its share buy-back program after a two-year break, Financial Times reports. The maker of Lucky Strike cigarettes will repurchase £750 million of stock in 2011. The buyback is the equivalent of a 1.6% stake based on a market value of £47.2 billion, adds Bloomberg. The London-based company repurchased shares from 2003 to 2008, before suspending the program in 2009.
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