Renault announced on Friday the implementation of a share buyback program involving the acquisition of a maximum number of 200,000 shares, representing a total amount of some eight million euros.

The automotive group states that it has entrusted an investment services provider (ISP) with a mandate to buy back these shares, depending on market conditions, over a period running from December 15 to 19.

The shares bought back are intended to cover obligations towards beneficiaries of its performance share program and the long-term incentive plan for the CEO and senior executives.

Following this announcement, the share price was one of the biggest risers on the CAC 40 index early Friday morning, posting a gain of almost 2%.

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