Liberty Global to buy back US$1b of stock

International pay TV platform operator Liberty Global has said it plans to buy back another US$1 billion of its own shares.

The company, which has pay TV operations in thirteen countries and also owns Chellomedia, has already been aggressively buying back its stock.

Liberty embarked on a stock repurchase programme in 2005, since when it has repurchased over US$9 billion of equity.

The company will acquire different classes of its own shares through 2013, taking the cumulative buyback total to over US$10 billion.

The news came on the same day it was confirmed that Liberty Global was joining the Nasdaq 100 Index of top-performing companies.