November 20, 2012 / 3:50 PM / 5 years ago

Interpublic sells remaining stake in Facebook

Nov 20 (Reuters) - Interpublic Group of Companies said it sold its remaining investment in Facebook Inc for $95 million in cash.

Interpublic said it expects to record a pre-tax gain of $94 million.

"We decided to sell our remaining shares in Facebook as our investment was no longer strategic in nature," Chief Executive Michael Roth said in a statement.

Interpublic also authorized an increase in its existing share repurchase program from $300 million to $400 million.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below