(Alliance News) - Tenaris SA reported over the weekend that it purchased 5.3 million shares between May 20 and May 24.

The shares were purchased at an average price of EUR15.7460 for a total value of EUR83.8 million.

As a result of these purchases, the company holds 21.7 million shares or 1.9 percent of the share capital.

Tenaris' stock closed Friday in the red by 0.4 percent at EUR15.55 per share.

By Chiara Bruschi, Alliance News reporter

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