Fidelity National Information Services buys back 1.4m shares
24 October 2006 | 2055 views | 0
Source: Fidelity National Information Services
Fidelity National Information Services, Inc. (NYSE:FIS) , a majority-owned subsidiary of Fidelity National Financial, Inc. (NYSE:FNF) , announced that it repurchased approximately 1.4 million shares of FIS common stock from Fidelity National Title Group, Inc., (NYSE:FNT) and its subsidiaries on October 23, 2006, at a total cost of approximately $56.4 million, bringing the total number of FIS shares outstanding to 189,282,429.
FIS' repurchase of shares is in conformity with FNF's previously announced receipt of a formal private letter ruling from the Internal Revenue Service regarding the tax-free distribution of FNT stock to FNF shareholders and the merger of FNF with and into FIS.