AT&T Warns Coronavirus Financial Impact ‘Could Be Material,’ Nixes $4 Billion Stock-Buyback Plan

AT&T called off plans to repurchase $4 billion in stock during the second quarter — and has halted all other buybacks — saying it has decided to keep the cash to invest in its networks and in taking care of employees during the coronavirus pandemic.

The telco, which made the disclosure Friday in an SEC filing,

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