AT&T plans to focus on networks

03/31/2013 | Bloomberg

AT&T says it will concentrate its corporate resources on building out its fiber-optic and wireless networks, meaning that it will cut back on the number of shares it buys back from investors. The telecom's board on Friday authorized 300 million additional share repurchases, the company announced while releasing a statement saying that it will issue future buybacks "opportunistically." AT&T has budgeted a record amount for capital expenditures in 2013.

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