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The German sportswear brand Adidas is planning to buy back up to €3bn ($3.72bn) of its shares over the next three years.

That represents nearly 9% of its share capital, the firm said.

It will finance the buyback mostly with current net cash and through its expected strong cash flow in coming years the firm said.

Adidas is reporting fourth-quarter results on Wednesday and it's expected to show a pick-up in profits.

It undertook a previous €1.5bn shareback in 2014, when the company was trying to placate angry investors after a string of profit warnings.