Amazon to Repurchase as Much as $5 Billion of Its Own Shares Inc. will repurchase as much as $5 billion of its own shares, replacing a previous $2 billion buyback program authorized in 2010.

"The program allows the company to repurchase its shares opportunistically from time to time when it believes that doing so would enhance long-term shareholder value," the online retailer said in a filing Wednesday. "The repurchase authorization does not have a fixed expiration."

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