T-Mobile announces $1.5 billion stock repurchase program
Dec 7, 2017
Company Release - 12/6/2017 8:00 AM ET
BELLEVUE, Wash.--(BUSINESS WIRE)-- T-Mobile US, Inc. (NASDAQ: TMUS) today announced that its Board of Directors authorized a stock repurchase program for up to $1.5 billion of T-Mobile’s common stock through December 31, 2018.
“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.”
Under the repurchase program, repurchases can be made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions or otherwise (but will not include purchases of common stock by the Company from Deutsche Telekom AG, our majority stockholder), all in accordance with the rules of the Securities and Exchange Commission and other applicable legal requirements. The specific timing, price and size of purchases will depend on prevailing stock prices, general economic and market conditions, and other considerations. The repurchase program does not obligate the Company to acquire any particular amount of common stock, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion.
We also understand that Deutsche Telekom AG, our majority stockholder, or its affiliates, is considering plans to purchase additional shares of our common stock. Such purchases would likely take place through December 31, 2018, all in accordance with the rules of the Securities and Exchange Commission and other applicable legal requirements.
J. Braxton Carter, Executive Vice President & Chief Financial Officer, and Mike Sievert, Chief Operating Officer, will be presenting at 8:45 a.m. Eastern Standard Time on Wednesday, December 6, 2017 at the 45th Annual UBS Global Media and Communications Conference in New York, NY, where they will discuss, in part, the repurchase program.
A live webcast of the event will be available on the Company’s Investor Relations website, http://investor.T-Mobile.com, on Wednesday, December 6, 2017 at 8:45 a.m. EST. An on-demand replay will be available shortly after the conclusion of the presentation.