For the first time in its history, Google plans to buy back its own shares, following the completion of the AdMob acquisition.
Google CEO Eric Schmidt told Bloomberg of the plan Tuesday, which of course assumes the deal passes regulatory scrutiny. Google announced plans Monday to buy AdMob--one of the most successful mobile advertising companies--for $750 million in stock, making it the third-largest acquisition in Google's history.
Some had wondered why Google used stock instead of dipping into its cash horde to make the deal, which has the effect of diluting the holdings of other shareholders. However, by … Read more