This is What T-Mobile is Doing After Sprint Merger Talks Ended

It’s been a month since T-Mobile and its rival Sprint Corp. have ended discussions to merge.

T-Mobile announced this week that its board approved the company’s very first buyback program.

According to the wireless carrier, Deutsche Telekom AG who already owns well over 60% of the company, is planning to buy even more shares.

The program will have up to $1.5 billion of shares eligible to be bought back and will start on Thursday and go on until December 31st 2018.

T-Mobile CFO Braxton Carter remarked, Coming off the Sprint deal with significant shareholder rotation happening, we think that we have a tremendous value here.”

According to Carner, with Deutsch Tekelom planning to buy more, the program could potentially reach the $2 billion level.

Carter said that, “(Deutsche Telekom) is finalizing plans right now.”

He also said, “We think there’s a lot of potential out there. That would be another use of cash.”

Disclaimer: We have no position in T-Mobile US, Inc. (NASDAQ: TMUS) and have not been compensated for this article.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

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