T-Mobile Announces Stock Repurchase Program

U.S. wireless carrier T-Mobile (TMUS) announced on December 6 that its Board of Directors approved the company’s first stock repurchase program. Over the next year, T-Mobile can repurchase up to $1.5 billion worth of its shares through open market purchases, private negotiated transactions, or other deals. T-Mobile does not plan to repurchase shares from its parent company Deutsche Telekom AG, which currently holds 64% of T-Mobile shares, but Deutsche Telekom may purchase some of its own shares.

 

Sonal detected the news event at 8:00 am and sent an alert to subscribers. The next trade took place at 8:04 am for $60.96. Regular market trading opened for the day at $60.53. The stock price climbed throughout the day to close at $62.12. The trend continued upwards for the five trading sessions before closing at $63.83.

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