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Luxury goods group Kering to buy back up to 1 percent of shares

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Luxury goods group Kering to buy back up to 1 percent of shares

Luxury goods group Kering to buy back up to 1 percent of shares
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Charles Platiau(Reuters)
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PARIS (Reuters) - French luxury goods group Kering <PRTP.PA>, whose brands include Gucci and Saint Laurent, said it planned to buy back up to 1 percent of its share capital over a 12-month period.

Kering said the total amount of the buyback would not exceed 300 million euros ($342 million), and that the price paid would not exceed 480 euros per share.

Kering shares, which hit a record high of around 522 euros in June, have risen about 3 percent so far in 2018.

($1 = 0.8777 euros)

(Reporting by Sudip Kar-Gupta, editing by Louise Heavens)

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