By definition, buybacks intend to punish the shareholders who sell and benefit those who don’t, which in RBS’s case involves the taxpayer.
Simon Goodley is a Guardian business reporter
Like the Halal Butchery Reporter for Peppa Pig Weekly then.
Pre-announcement of buybacks shares are at one price. Post- at another. Those who sell into this new price have benefited just as much as those who hold on.
How could it be any other way? If those who sold into buybacks lost out they’d never sell into them, would they?