“Since launching Un-carrier, T-Mobile has delivered unmatched growth and continues to take share in a rapidly changing and competitive wireless industry. This repurchase program underscores our Board of Directors’ and management team’s confidence in our business and our commitment to creating value for shareholders,” said John Legere President and CEO of T-Mobile. “Our strong balance sheet and cash flow generation give us the ability to return capital while continuing to make significant investments in our network and operations. 2018 is going to be another exciting year in wireless and we can’t wait to get started.”
T-Mobile is just one of many firms expected to initiate stock repurchase programs ahead of President Trump’s tax reform plan. Bank of America recently announced an additional $5 billion stock buyback program, following an already-planned $12 billion repurchase initiative, which garnered criticism from Senator Chuck Schumer, who said that move was ” another signal big corporations can smell the huge tax cut they have coming.”
T-Mobile said Deutsche Telekom AG, its parent company, won’t buy back any common stock. The repurchase program “may include open market purchases, private negotiated transactions or otherwise,” the company said.
T-Mobile said it will analyze market conditions before making potential common stock repurchases and notes that the “program may be suspended or discontinued at the company’s discretion.”
Source: Tech CNBC
T-Mobile announced .5 billion stock buyback plan