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Yahoo stock-buyback plan boosted by $5bn

YAHOO has boosted its stock-buyback plan by $5bn (€3.7bn), returning more cash to shareholders as CEO Marissa Mayer seeks to revive growth at the biggest US internet portal.

Yahoo will also sell $1bn in convertible debt maturing in 2018, in a private placement, the California-based company said. Yahoo has repurchased $5.3bn of its own stock since January last year.