Wireless carrier, T-Mobile US, Inc., a Delaware corporation announced that its Board of Directors has authorized a $14.0 billion share buyback program. T-Mobile (NASDAQ: TMUS), a $182.46 billion market cap company’s stock repurchase program for up to $14.0 billion of the common stock, par value $0.00001 per share will run through September 30, 2023. The buyback could be $3.0 billion through the remainder of 2022. T-Mobile share price is around $145.37 and the stock price has jumped 25% in 2022 so far.
Repurchases or buybacks are expected to be made from available cash on hand and proceeds of one or more debt issuances or other borrowings, based on the Company’s evaluation of market conditions and other factors.
Under the repurchase program, buybacks can be made from time to time using a variety of methods, which may include open market purchases, 10b5-1 plans or privately negotiated transactions.
Deutsche Telekom AG, the Company’s controlling stockholder, has no present intention of selling common stock pursuant to the repurchase program.
The specific timing, price and size of repurchases will depend on prevailing stock prices, general economic and market conditions, and other considerations, and may include up to $3.0 billion through the remainder of 2022.
After agreeing to a deal to sell its wireline operations to Cogent Communications Holdings Inc for $1 while taking a $1 billion charge on the transaction, T-Mobile US Inc (TMUS.O) is doubling down on 5G services. The agreement includes a $700 million contract that commits Cogent to serving the carrier’s transit needs for the following 4-and-a-half years.
T-Mobile US, Inc. is America’s supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. Mike Sievert, president & chief executive officer of T-Mobile US, Inc. (NASDAQ:TMUS), will present and provide a business update on Wednesday, September 14, 2022, at 3:00 p.m. Pacific Daylight Time (6:00 p.m. Eastern Daylight Time) at the Goldman Sachs Communacopia + Technology Conference.