T-Mobile US to propose significant share buyback: CFO

This post was originally published on this site

BARCELONA (Reuters) – U.S. No.3 carrier T-Mobile US will propose a “significant” share buyback that could start in December, finance chief Braxton Carter said on Thursday, a sign of confidence after the collapse of its merger with Sprint Corp.

Carter, speaking at a Morgan Stanley conference in Barcelona, said the buyback proposal would be put to the board in about two weeks. He said Deutsche Telekom, which owns around 64 percent in T-Mobile, would not tender shares and may even buy stock itself.

The shares would be held in treasury and deployed as acquisition currency for future M&A deals, Carter also said, highlighting interest in acquisitions in the so-called Internet of Things or of regional players.