T-Mobile US has initiated a USD14 billion share buyback, with USD3 billion earmarked for stock repurchases during the remainder of 2022. In a Securities and Exchange Commission (SEC) filing dated 8 September, the cellco confirmed: ‘Repurchases are expected to be made from available cash on hand and proceeds of one or more debt issuances or other borrowings, based on the company’s evaluation of market conditions and other factors.’
The filing continues: ‘Under the repurchase programme, repurchases can be made from time to time using a variety of methods, which may include open market purchases, 10b5-1 plans, privately negotiated transactions or otherwise, all in accordance with the rules of the SEC and other applicable legal requirements. The specific timing, price and size of repurchases will depend on prevailing stock prices, general economic and market conditions, and other considerations, and may include up to USD3.0 billion through the remainder of 2022.’
The repurchase programme will run until 30 September 2023.