Facebook to buy back additional $9 billion shares; here are details

Facebook Inc will buy back an additional $9 billion of its shares, as it looks to pacify investors following a slump in its stock. The social media giant`s shares, which have tumbled more than 22 percent this year, rose nearly 1 percent in extended trading.

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

Facebook is being investigated by lawmakers in Britain after consultancy Cambridge Analytica, which worked on Donald Trump`s U.S. presidential campaign, obtained personal data of 87 million Facebook users from a researcher.

Watch this Zee Business video here:

Concerns over the social media giant`s practices, the role of political adverts and possible foreign interference in the 2016 Brexit vote and U.S. elections are among the topics being investigated by British and European regulators.