SocGen CEO Says He Will Review Buybacks If New Tax Happens

Societe Generale Chief Executive Officer Slawomir Krupa said he’ll reconsider the use of share buybacks if a potential new French tax takes effect.

If the measure, which was introduced by parliament last night, “were to stick and be a really substantial thing,” the firm would “adjust the math” for how it chooses between various options of capital deployment such as investment, acquisitions and stock repurchases, Krupa said on an analyst call Thursday.

The CEO cautioned it’s hard to predict if the new tax will come and in what form. He also said that buybacks will remain an “interesting” option regardless. ...