Romania's Banca Transilvania to buy back 12 mln shares

The minimum acquisition price will be equal to the value at which the shares are traded on the Bucharest Stock Exchange at the moment of the acquisition, it said in a statement.

The shares, with a par value of 1.0 leu each, are equal to a 0.46% stake in Banca Transilvania. The buyback programme will take place between December 18 and April 24.

The shares will be repurchased as part of a 17 million share buyback programme approved by the bank's shareholders earlier.

Blue chip Banca Transilvania was trading 2.48% down at 1.57 lei by 1415 CET on the Bucharest Stock Exchange.

(1 euro = 4.4765 Romanian lei)