Maersk Looking to Buy Back Shares

Danish shipping group A.P. Moller-Maersk which announced a maiden $1 billion (609.87 million pounds) share buyback last month, could be placed to hand back even more cash to investors, funded by asset sales and strong cash flows, analysts said. Speaking ahead of a day of investor and strategy meetings, analysts estimated the group could increase its distribution of cash to shareholders as much as ten times. The Danish shipping and oil group announced its first share buyback programme in its 110-year history in August. It said it would buy $1 billion of its shares in the 12 months from Sept. 1 and would consider more in the future.