AAA Auto rejects share buyback rumours

Portfolio
The share price of listed used car dealer AAA Auto jumped by more than 40% in the past days, which triggered a rumour on the market that the company itself was buying back its own shares. AAA Auto's management, however, denied such action in Czech daily E15.
AAA Auto denied in Czech economic daily E15 that the sharp rise in its share price took place because it was repurchasing its own shares.

AAA Auto has the possibility to buy back up to 10% of share capital, however it does not plan to buy any shares for now.

“We also believe that AAA Auto was not on the buy side in recent days when the share price surged by over 40%,“ Atlantik has commented on Monday.
 

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