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Liberty Global Announces New $1 Bln Stock Buyback Program

12/14/2012 7:12 PM ET

Liberty Global, Inc. (LBTYA: Quote, LBTYB, LBTYK) on Friday announced the authorization of a new $1.0 billion stock repurchase program and its intention to spend the amount during 2013, consistent with prior years.

Through December 14, Liberty Global has repurchased about $925 million of its equity during 2012, bringing its cumulative buyback total since inception in 2005 to over $9.0 billion.

Under the new $1.0 billion stock repurchase program, Liberty Global may acquire from time to time its Series A common stock, Series C common stock, or any combination of Series A and Series C common stock.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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There was a mixed performance on Wall Street on Friday. Shares suffered an early decline, as investors continued to express worries about the Federal Reserve. A recovery through the rest of the day allowed the Dow to edge into positive territory by the close. The Nasdaq and S&P 500 posted fractional losses. Stocks have shown a notable move to the downside in early trading on Friday amid lingering concerns about the outlook for the Federal Reserve's asset purchase program. The major averages have slid firmly into negative territory, adding to the modest losses posted in the previous session. The major averages are currently posting notable losses, near their lows for the young session. After reporting a sharp drop in new orders for manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing that durable goods orders rebounded by more than anticipated in the month of April. The report said durable goods orders surged up by 3.3 percent in April after tumbling by a revised 5.9 percent in March.
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