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Stock Market & Financial Investment News

News Breaks
November 20, 2012
10:43 EDTIPG, FBInterpublic Group sells stake in Facebook, boosts buyback by $100M
Interpublic Group (IPG) announced that it has sold its remaining investment in Facebook (FB) for net cash proceeds of $95M. The company expects to record a pre-tax gain of $94M. Interpublic also announced that its board has authorized an increase in its existing share repurchase program from $300M to $400M. As of September 30, $151M had been used under the authorization. The share repurchase program has no expiration date.
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