T-Mobile Authorizes $1.5 Billion Share Repurchase Program
Just as it promised, T-Mobile (NASDAQ: TMUS) has announced that its board of directors has authorized a new $1.5 billion share repurchase program. CFO Braxton Carter said at a conference in mid-November that the company was pursuing a "significant" program, and that board approval could be secured within about two weeks. Approximately two weeks later, the program is now official, and is good through the end of 2018.
The amount of the authorization is actually modest relative to some analyst expectations, which had ranged from $5 billion to as high as $17 billion. That high estimate would have represented a meaningful portion of T-Mobile's current market cap of $51.5 billion.
CEO John Legere. Image source: T-Mobile.
Source: Fool.com
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