Elliott Urges RWE to Boost Buybacks After Building 5% Stake (3)

Elliott Investment Management LP called on RWE AG to ramp up buybacks after amassing a stake of close to 5% in the German utility.

RWE has faced intense pressure from investors due to a falling share price and its focus on a huge investment program. The firm last week signaled it was keeping the option open for further share purchases — after already announcing a €1.5 billion ($1.6 billion) buyback last November — but hasn’t yet specified any details.

“We share the market’s disappointment with the lack of clarity regarding the company’s commitment to enhance shareholder returns,” Elliott said in ...