[Techtaffy Newsdesk]

AOL has started a $400 million stock repurchase, in a modified ‘Dutch auction’ tender offer, as part of a program to return funds to shareholders from a $1.1 billion patent sale. AOL had inked a $1.056 billion cash deal with Microsoft in April.

This brings the total amount AOL intends to return to shareholders in 2012 to approximately $1.1 billion.

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