Diller's Expedia Cuts Buyback Plans, Unable To Secure Affordable Financing

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Shares of Expedia Inc. plunged Monday after the online travel agency said it would curtail stock-buyback plans because of a lack of financing on acceptable terms.

The Bellevue-based company's stock sank $2.68, or 9 percent, to close at $26.71.

In June, the company that operates Expedia.com announced it would buy back about 116.7 million shares, or about 38 percent of its outstanding stock, a move that sent shares up more than $4 to above $29 per share.