Whitbread, the UK group behind the Premier Inn hotel chain, plans to boost its share buyback scheme by at least £2bn, using the proceeds of its sale of Costa Coffee, the group said on Wednesday.
The hospitality group began a programme in January, with the aim of buying back up to £500m of shares by the end of April.
It said on Wednesday that it now plans to launch a tender offer for at least £2bn worth of shares after the scheme is completed.
