AboveNet Announces $200 Million Share Repurchase Program

AboveNet, Inc. (NYSE: ABVT), announced today that its Board of Directors has authorized a share repurchase program of up to $200 million through December 31, 2012.

Jeffrey Brodsky, Non-Executive Chairman of AboveNet, said, “As part of its ongoing review of opportunities to build long-term shareholder value, the Board considers various options to enhance shareholder returns. We believe AboveNet's current market value does not fully reflect the intrinsic value of the business and the repurchase plan is one effective option to enhance shareholder value.”