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21Vianet Announces $5M Share Repurchase Program

Courtesy of Benzinga.

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21Vianet Group, Inc. (Nasdaq: VNET) (“21Vianet” or the “Company”), the largest carrier-neutral Internet data center services provider in China, today announced that its board of directors has authorized a US$5 million share repurchase program.

21Vianet’s board of directors has authorized, but not obligated, the Company to repurchase up to US$5 million of its own outstanding shares within the next 12 months. The share repurchases may be made on the open market at prevailing market prices pursuant to Rule 10b5-1 and/or Rule 10b-18 plans, in privately negotiated transactions, in block trades or legally permissible ways from time to time depending on market conditions and in accordance with applicable rules and regulations.

21Vianet’s board of directors will review the share repurchase program periodically, and may authorize adjustments to its terms and size. The Company plans to fund repurchases made under this program from its available cash balance.

Posted-In: News Buybacks Press Releases

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