(Alliance News) - Convergenze Spa announced Wednesday that its board of directors has proposed approval of the authorization to buy back and dispose of its own shares.

The board requested authorization to buy back a maximum of shares equal to 20 percent of the company's capital, investing no more than EUR500,000.

Convergenze's stock is down 3.7 percent at EUR1.30 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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