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Comcast considers $2.5 bln more in share buyback - Bloomberg
March 31, 2014 / 10:32 AM / 4 years ago

Comcast considers $2.5 bln more in share buyback - Bloomberg

March 31 (Reuters) - Comcast Corp is planning to increase its share buyback plan by more than 80 percent as its $45 billion takeover of Time Warner Cable Inc undergoes regulatory review in the coming weeks, Bloomberg reported.

Comcast is currently mulling an additional $2.5 billion share repurchase to its current $3 billion buyback plan, Comcast Chief Financial Officer Michael Angelakis told Bloomberg in an interview.

A planned sale of assets to complete the deal may produce cash for even more repurchases, Bloomberg reported. (link.reuters.com/xuv97v)

Comcast’s proposed friendly takeover of Time Warner Cable would boast a footprint spanning from New York to Los Angeles, with a near 30 percent share of the pay TV market as well as a strong position in providing broadband Internet services. (Reporting by Arnab Sen in Bangalore; Editing by Saumyadeb Chakrabarty)

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