T-Mobile Announces $1.5 Billion Stock Repurchase Program
December 06 2017 - 8:00AM
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.
About T-Mobile US, Inc.
As America's Un-carrier, T-Mobile US, Inc. (NASDAQ: TMUS) is
redefining the way consumers and businesses buy wireless services
through leading product and service innovation. Our advanced
nationwide 4G LTE network delivers outstanding wireless experiences
to 70.7 million customers who are unwilling to compromise on
quality and value. Based in Bellevue, Washington, T-Mobile US
provides services through its subsidiaries and operates its
flagship brands, T-Mobile and MetroPCS. For more information,
please visit http://www.t-mobile.com or join the conversation on
Twitter using $TMUS.
Forward-Looking Statements
This news release includes "forward-looking statements" within
the meaning of the U.S. federal securities laws. Any statements
made herein that are not statements of historical fact, including
statements about T-Mobile US, Inc.'s plans, outlook,
beliefs, or opinions, are forward-looking statements. Generally,
forward-looking statements may be identified by words such as
"anticipate," "expect," "suggests," "plan," “project,” "believe,"
"intend," "estimates," "targets," "views," "may," "will,"
"forecast," and other similar expressions. The forward-looking
statements speak only as of the date made, are based on current
assumptions and expectations, and involve a number of risks and
uncertainties. Important factors that could affect future results
and cause those results to differ materially from those expressed
in the forward-looking statements include, among others, the
following: adverse economic or political conditions in the U.S. and
international markets; competition in the wireless services market,
including new competitors entering the industry as technologies
converge; the effects any future merger or acquisition involving
us, as well as the effects of mergers or acquisitions in the
technology, media and telecommunications industry; challenges in
implementing our business strategies or funding our wireless
operations, including payment for additional spectrum or network
upgrades; the possibility that we may be unable to renew our
spectrum licenses on attractive terms or acquire new spectrum
licenses at reasonable costs and terms; difficulties in managing
growth in wireless data services, including network quality;
material changes in available technology; the timing, scope and
financial impact of our deployment of advanced network and business
technologies; the impact on our networks and business from major
technology equipment failures; breaches of our and/or our third
party vendors’ networks, information technology and data security;
natural disasters, terrorist attacks or similar incidents; existing
or future litigation; any changes in the regulatory environments in
which we operate, including any increase in restrictions on the
ability to operate our networks; any disruption or failure of our
third parties’ or key suppliers’ provisioning of products or
services; material adverse changes in labor matters, including
labor campaigns, negotiations or additional organizing activity,
and any resulting financial, operational and/or reputational
impact; the ability to make payments on our debt or to repay our
existing indebtedness when due; adverse change in the ratings of
our debt securities or adverse conditions in the credit markets;
changes in accounting assumptions that regulatory agencies,
including the Securities and Exchange Commission (“SEC”), may
require, which could result in an impact on earnings; and changes
in tax laws, regulations and existing standards and the resolution
of disputes with any taxing jurisdictions; and other risks
described in our filings with the SEC, including those
described in our most recently filed Annual Report on Form 10-K.
You should not place undue reliance on these forward-looking
statements. We do not undertake to update forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20171206005397/en/
Press Contact:T-Mobile US, Inc.Media
Relationsmediarelations@t-mobile.comhttp://newsroom.t-mobile.comorInvestor
Relations Contact:T-Mobile US, Inc.Nils Paellmann, 877-281-TMUS
or
212-358-3210investor.relations@t-mobile.comhttp://investor.t-mobile.com
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