(Alliance News) - Eni Spa announced Thursday that the first tranche of a new share buyback program will be launched within days.

In detail, the first tranche will cover a maximum of 6.4 million shares and for a maximum outlay of EUR150 million.

The plan had been announced along with the quarterly report and will total EUR1.6 billion and can be increased, based on possible upside, up to EUR3.5 billion.

Eni trades in the green by 0.2 percent at EUR14.48 per share.

By Claudia Cavaliere, Alliance News reporter

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