T-Mobile US is starting a $1.5 billion stock-repurchase program after merger efforts with Sprint collapsed, according to Bloomberg.
The buyback program, the first in T-Mobile’s history, is a milepost in a five-year turnaround plan focused on key areas like cash flow and the number of subscribers, company executives said at an investor conference. Also, the stock had declined more than 9 percent from a June high of $68.32 as prospects of a Sprint deal faded, creating a buying opportunity.
T-Mobile, the third-largest U.S. wireless carrier, has been the fastest growing member of its peer group, fueled by offers like no-contract service plans and free Netflix. But the pace of market share gains is under pressure as larger rivals Verizon and AT&T have responded with unlimited data plans aimed at people looking for cheaper ways to support their mobile video habits.
Deutsche Telekom, the controlling owner of T-Mobile, will participate and could add as much as 2 percent to its majority stake.
Tools for Modern Times, an educational program by Hrvatski Telekom and the University of Zagreb's Faculty of Education and Rehabilitation Sciences, has won two prestigious international Golden World Awards presented by the International Public Relations Association (IPRA).
Infobip has secured a $520 million senior secured facility, led by funds and accounts managed by BlackRock and Blue Owl.
In the past two years, DRUID AI has seen consistent ARR growth of 2x per year, driven by global expansion.
