Can Telephone and Data Systems (TDS) Deliver Value Without Array?
Telephone and Data Systems Inc. (TDS) reported steady financials, including $5.08B TTM revenue and $1.12B annual operating cash flow. It withdrew an acquisition offer for Array Digital Infrastructure, opting for share buybacks and spectrum asset sales. TDS has $523.9M authorized for buybacks and plans to monetize Array's spectrum to fund fiber expansion. Institutional interest grew, with low short interest. Investors will watch execution of buybacks and asset sales.


