Against the odds: DSV Panalpina loses WOW factor

On 29 October, when Danish powerhouse DSV Panalpina (DSV PAN) announced its interim results – adding it would resume buybacks (up to Dkr6bn, or $960m), thus devoting most of its free cash flow to shrink the share count and adjust its capital structure – it was the classic “take it for it what is”...

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