Telephone & Data Systems Inc. (TDS) said that its board has authorized a new $250 million stock repurchase authorization that will expire in three years.
The new repurchase authorization allows the repurchase of TDS common and TDS special common shares, as market conditions permit.
The company said, "We ended the third quarter of 2009 with a strong, investment-grade balance sheet and both of our business units, U.S. Cellular and TDS Telecom, are free cash flow positive. This financial strength gives TDS the flexibility to continue to repurchase its shares."
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