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Colgate also set a new plan to repurchase 30 million shares over the next two years.
This week, he and a new partner intend to present the board of directors with a novel plan to repurchase the company.
The shareholders of C.A. Nacional Teléfonos de Venezuela, or CANTV, agreed to management's plan to repurchase 15percentt of the company's stock for $30 a share.
The aerospace company, based in Seattle, said it would use the extra cash to buy back stock, completing a 1998 plan to repurchase 15percentt of its shares.
Morgan Stanley reportedly withdrew a plan to repurchase $4.9bn worth of trust preferred securities to get the Fed to approve its capital plan.
Its plan to repurchase the stake sold to the Troubled Asset Relief Program could improve investor confidence in the lender's health and its chances of finding a new chief executive.
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The Altria Group s announcement on Wednesday that it set the date for its planned spin-off of Philip Morris International and it plans to repurchase $7.5 billion of its stock over two years overshadowed the news that its fourth quarter profit tumbled 26%, sending shares higher.
The board also outlined plans to repurchase up to $6 billion of stock through early 2014.
G.E. said it planned to repurchase $7 billion to $9 billion of its stock in 2006.
The company said in October that it planned to repurchase $1.5 billion in stock this year.
The company also plans to repurchase up to $50 million worth of its stock by June 30.
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