Ahold quadruples buyback plans

Dutch grocer Ahold quadrupled the size of its planned share buyback to €2bn (£1.7bn) yesterday as it rewarded shareholders with most of the gains from the sale of a stake in Nordic group ICA. The total buyback, originally set at €500m, now represents some 15 per cent of the group’s share capital and follows the $3.1bn sale of a 60 per cent stake in ICA completed in March.