Mexico's Grupo Elektra Starts MXN4.68B Share Buyback Offer

MEXICO CITY (Dow Jones)--Mexican retailer and consumer banking company GrupoElektra SAB (ELEKTRA.MX) launched Friday an offer to buy back up to 8% ofoutstanding shares for an amount totaling 4.68 billion pesos ( $427 million).

Elektra said it will offer MXN238.00 a share for up to a little more than19.6 million shares, the company said in a filing with the Mexican StockExchange.

Around 2:05 p.m. EDT, Elektra shares were down 0.5% at MXN214.25.

The offer, to be conducted by brokerage firm Actinver, expires Aug. 30, thoughit could be extended.

Elektra operates over 1,000 retail locations in Mexico, Guatemala, Hondurasand Peru, and provides mass-market financial services.

-By Tom Barkley, Dow Jones Newswires; (5255) 5080-3451, tom.barkley@dowjones.com

(END) Dow Jones Newswires 08-03-07 1400ET Copyright (c) 2007 Dow Jones & Company, Inc.

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