Nestle plans first share buyback in three years

Nestle, the world's biggest food group, announced an 8 billion Swiss franc ($8.8 billion) share buyback, its first in three years after reporting revenue growth exceeding analysts' estimates in the first half of the year.

Nestle outperformed its main European rivals Unilever and Danone in the first half, according to The Malay Mail Online.

Nestle revenue increased 4.7 percent excluding acquisitions, divestments and currency shifts. That compares to a 4.5 percent median of 14 analysts' estimates, according to the report.

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