Portuguese firms NOS, CTT boost share buybacks as market pressure mounts

Portugal's telecom operator NOS approved a share‑repurchase programme of up to 750,000 shares, representing 0.15% of its capital. The buyback runs from 28 July 2023 to 4 October 2026, with purchases limited to a maximum of 25% of the daily average trading volume on Euronext Lisbon and priced within ±15% of the lowest price recorded in the three preceding regulated sessions. The company said it will avoid acquisitions during periods it deems sensitive, such as around earnings releases.

Postal service CTT also increased its share‑buyback allocation, raising the programme to €40 million from €30 million despite a 41.6% drop in first‑half net profit to €12.9 million. The profit decline was driven by restructuring costs and the impact of a new European Union import tax on its customs subsidiary Cacesa. CTT cut its 2026 guidance and cited a challenging regulatory environment, but said the expanded buyback reflects confidence in its longer‑term cash position.