U.S. wireless carrier T-Mobile U.S. said on Wednesday its board authorized a buyback program, its first-ever, for up to $1.5 billion of the company’s common stock.
The announcement comes a month after CFO Braxton Carter said the company would propose a “significant” share repurchase, a signal that the third biggest carrier in the United States is confident in its outlook after the collapse of deal talks with Sprint s .
Deutsche Telekom AG, which owns about 64% in T-Mobile tmus , also plans to purchase additional shares, T-Mobile said on Wednesday.
The issue of control was one of several deal-breakers in the T-Mobile-Sprint talks.
By participating in a buyback Deutsche Telekom would concentrate its T-Mobile holding, strengthening its hand in any future merger talks.
The stock repurchase program would take place through Dec. 31, 2018, T-Mobile said on Wednesday.