ATLANTA-BellSouth Corp. announced it will begin repurchasing the company’s shares of stock on the open market.
“At current trading levels, BellSouth’s stock represents an excellent investment opportunity,” said Ronald M. Dykes, executive vice president and chief financial officer. “Our decision to repurchase BellSouth stock reflects our confidence in the company and the strong position we will continue to hold in the rapidly developing telecommunications industry.”
Repurchased shares will be held as treasury stock and be available for general corporate purposes.
