Nestle to speed up share buyback

Nestle is to use some of its large cash reserves to buy back shares quicker than originally planned.

The world’s biggest food group is likely to complete its 16.5 billion euro share buyback programme towards the middle of next year.

By then it could have more cash from the sale of its stake in eye care firm Alcon.

Nestle would not comment on whether on might think about buying Cadbury, which is being pursued by Kraft Foods.

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tags: Food, Switzerland