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.
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A planned sale of assets to complete the deal may produce cash for even more repurchases, Bloomberg reported. (http://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.