Amazon to buy back US$5b of shares

PHOTO: REUTERS

FEB 11, 20166:36 AM

[BENGALURU] Amazon.com Inc, the world's largest e-commerce company, said on Wednesday its board authorised a US$5 billion share buyback programme.

The buyback replaces the US$2 billion repurchase programme approved in 2010. The company had US$763 million remaining under the previous plan.

The company's shares rose 1.5 per cent to US$498 in after-hours trading.

REUTERS