Facebook acquires $ 9 billion additional stock (Sh920b) :: Kenya



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The illustration shows a Facebook logo reflected in the eye of a person, in Zenica. [Photo: Courtesy]

Facebook will buy back an additional $ 9 billion of its shares, with the aim of pacifying investors as a result of a fall in its stock.

Shares of the social media giant, which fell more than 22% this year, rose nearly 1% in prolonged trading.

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EU governments will gather evidence from technology companies

The new program is in addition to a $ 15 billion share buyback program announced by the company last year.

British lawmakers are investigating Facebook after consulting firm Cambridge Analytica, which worked on Donald Trump's presidential campaign in the United States, obtained a researcher's personal data on 87 million Facebook users.

Concerns about the social media giant's practices, the role of political advertising and possible foreign interference in the 2016 Brexit vote and the US elections are among the topics discussed by UK and European regulators.

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