Buyback

QR National (ASX:QRN) stock has changed hands yesterday with a combination of a stock placement and a stock buyback from the Queensland Government's stake in the company.

• $1.5 billion in QRN stock was sold.
• $1 billion was bought back by QR National, $500 million was placed with a few large investors. 144 million shares were crossed on the stockmarket at $3.47 per share.

Telstra (ASX:TLS) could have a share buyback next year if it gets the cash from its deal with the government. Under the agreement, the telco expects to get about $11 billion total—in current dollars and after tax is deducted—in disconnection payments, funding for universal services and for leasing infrastructure to NBN Co.

Chief financial officer John Stanhope said the company can give out ordinary dividends but not the special dividends possible with the payout from the NBN Co deal.

Consolidated Media Holdings (CMJ) has announced tat it will seek shareholder approval to buyback shares of the company. The share buyback look to acquiring up to 73.8 million shares, or about 11.9 per cent of its current shares on issue (620.7 million shares on issue). James Packer currently holds a 45.3 per cent stake in ConsMedia and Seven Network has a 22.1 per cent stake. The company has $225 million of surplus cash for the share buyback.