Glencore announces $1 billion share buyback

(Reuters) -Glencore said on Wednesday it will buy back shares worth $1 billion starting next week following the merger of global agribusiness Bunge Global with its grain handler Viterra.

The miner, which will hold 16.4% of the enlarged company and $900 million in cash, considers NYSE-listed Bunge shares as surplus capital.

(Reporting by Prerna Bedi in Bengaluru; Editing by Leroy Leo)