Management of Microsoft has made changes to the program under the back baying of the stocks.
The management of American computer giant Microsoft Corp. has made changes to the program under the back baying of the stocks. According to representatives of the company, by the moment of end on August, 17th 2006 declared in July of 2006 “The Dutch auction” (to public sale at which the auctioneer gradually reduces the declared price, there will be no yet a buyer) it has been redeemed stocks only on 3.8 billion dollars.
Before the beginning of auction Microsoft intended to redeem securities not less than on 20 billion dollars. In this connection the company has declared plans to redeem till June, 30th 2011 securities (within the limits of the long-term program of the repayment of stocks) for a total sum of 36.2 billion dollars, that almost twice surpasses proposed earlier, Associated Press informs. In July 2006 Microsoft has declared intention to redeem till August, 17th 2006 during “the Dutch auction” securities for the sum nearby 20 billion dollars. Besides, the company plans to redeem securities on 20 billion dollars till June, 30th 2011.