Wednesday , October 20 2021

Facebook to withdraw an additional $ 9 billion shares


REUTERS: Facebook Inc. will buy US $ 9 billion in additional shares, as it pacifies investors following the decline of their shares.

The social media giant has increased its shares by 1 percent in expanded trade, with shares taking more than 22 percent this year.

The new program, in addition to the $ 15 billion share repurchase plan announced last year by the company.

Facebook is being investigated by lawmakers in Britain after Cambridge Analytica, Donald Trump's US presidential campaign, advises 87 million Facebook users of personal data from researchers.

The issues examined by British and European regulators include concerns about social media giant practices, the role of political advertisements, and the 2016 Brexit vote and possible external interventions in the US elections.

(Reporting by Bengaluru Vibhuti Sharma; editing by Anil D & # 39; Silva)

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