Liberty Global announces new 500M dollar stock repurchase program

By FNE Staff

    Liberty Global Inc., which operates cable TV systems in Central Europe under the UPC brand, has announced a stock repurchase program under which the company may acquire up to $500 million of its common stock.

    Liberty said the buyback program for its Series A and Series C common stock may be handled through open market transactions and/or privately negotiated transactions, which may include derivative transactions. The timing of the repurchase of shares pursuant to the program will depend on a variety of factors, including market conditions, the Englewood, Colorado-based company said in a statement Nov. 21

    Liberty Global carried out a similar $250 million buyback program in 2006 for $250 million of its LGI series stock.

    The program may be suspended or discontinued at any time.

    Liberty Global offers advanced video, voice and broadband Internet services. As of Sept. 30, Liberty Global operated state-of-the-art broadband communications networks that served approximately 16 million customers across 17 countries principally located in Europe, Japan, Chile, and Australia.