The company plans on using its collapsed merger with Sprint as a spring board to future M&A deals.
On Thursday, T-Mobile’s CFO disclosed that the third biggest carrier will propose a “significant” share buyback that could begin in December.
The development comes in the wake of the collapse of its merger with Sprint Corp.
While speaking at a Morgan Stanley conference in Barcelona, Carter said the share buyback would be put to the board in about two weeks.
Significantly, Deutsche Telekom, which has a 64% stake in the company could increase its stock holding, said Carter.
He mentioned the shares would be held in treasury and deployed as acquisition currency for future M&A deals, said Carter.
This info underscores and highlights T-Mobile’s intent on acquiring smaller startups, including regional players, who are into Internet of Things (IoT).
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