T-Mobile (News - Alert) 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 (News - Alert) 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 (News - Alert), 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 (News - Alert) 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.
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 (News - Alert)"), 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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