General Electric (GE) is planning to buyback shares worth around $12 billion in the next few years, Financial Times reports. The U.S. conglomerate is aiming to buy back the shares issued in October 2008 worth $12 billion when it had 10 billion shares outstanding. The company currently has 10.6 billion outstanding shares and will have to repurchase about 600 million shares on May 17, 2011. The proposed buybacks will be in addition to the $2.3 billion shares repurchased by the company since 2010.

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