Premier Inn owner Whitbread to expand stock buyback scheme by £2bn

Whitbread, the UK group behind the Premier Inn hotel chain, plans to boost its share buyback scheme by at least £2bn, using the proceeds of its sale of Costa Coffee, the group said on Wednesday.

The hospitality group began a programme in January, with the aim of buying back up to £500m of shares by the end of April.

It said on Wednesday that it now plans to launch a tender offer for at least £2bn worth of shares after the scheme is completed.

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