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Yahoo increases share buyback authorization by $5 billion

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(Globalpost/GlobalPost)

SAN FRANCISCO (Reuters) - Yahoo Inc said it has increased its share repurchase authorization by $5 billion and that it planned to offer $1 billion in convertible notes.

Shares of Yahoo increased 1.6 percent to $35.17 in after hours trading on Tuesday following the announcement.

(Reporting by Alexei Oreskovic)

http://www.globalpost.com/dispatch/news/thomson-reuters/131119/yahoo-increases-share-buyback-authorization-5-billion