British American Tobacco joins FTSE share buyback bonanza with £2 billion plan

BAT is trying to shift away from cigarettes to new products like vape pens

(Picture: Getty Images)

BRITISH American Tobacco has become the latest London-listed business to announce a major share buyback, putting FTSEcompanies well on track to surpass last year’s total.

BAT said today it would spend £2 billion buying up its own shares. The buyback will start on Monday and run until the end of the year.