BARCELONA, Nov 16 (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. (Reporting by Douglas Busvine; Editing by Ludwig Burger)