Facebook to buy back additional $9b of its shares

  • Money Digest
CALIFORNIA

Dec 9, 2018-

Facebook Inc will buy back an additional $9 billion of its shares, as it looks to pacify investors following a slump in its stock. The social media giant’s shares, which have tumbled more than 22 percent this year, rose nearly 1 percent in extended trading. The new programme is in addition to a share buyback plan of up to $15 billion announced by the company last year. Facebook is being investigated by lawmakers in Britain after consultancy Cambridge Analytica, which worked on Donald Trump’s US presidential campaign, obtained personal data of 87 million Facebook users from a researcher.  (REUTERS)

Published: 09-12-2018 08:29

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