Daily Mail

‘Publish probe on buybacks’

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MINISTERS have been accused of blocking a report into allegation­s that company bosses used share buybacks to boost their bonuses.

They commission­ed an independen­t review into buybacks 14 months ago, in which a firm increases its stock price by buying shares before cancelling them. This leaves fewer in circulatio­n but the company still has the same value, so each share is worth more.

Bosses are said to have used buybacks to boost their bonuses, which are typically paid in stock.

MPs have been briefed on the review’s results, but they have not published the report.

MPs on the Commons business committee said: ‘We recommend the review of share buybacks is published without further delay.’

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