To lighten up the balance sheet a bit, as they had too much cash. They can't create return higher than the bank interest rate thus the cash better be used to buy back and reduce the number of shares in the market. Less shares in the market means less volatile (theoretically). The reason is also about the same as dividend, but buy back is a better approach long term IMO.
To lighten up the balance sheet a bit, as they had too much...
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