The share buyback was announced in November last
year, but was put on hold as the engineering giant drew up a
restructuring program to catch up with more profitable
Until 31 October 2015, Siemens will repurchase up to 47.8
million shares, the company said.
"The buyback serves the sole purpose of cancelling and reducing
the capital stock, issuing shares to employees, board members of
affiliated companies, and members of the Managing Board of
Siemens AG as well as servicing convertible bonds and warrant
bonds," the group said in a statement.
($1 = 0.7269 Euros)
(Reporting by Kirsti Knolle; editing by Jason Neely)
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