United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: January 28, 2000
SBC COMMUNICATIONS INC.
A Delaware Corporation
Commission File No. 1-8610
IRS Employer No. 43-1301883
175 E. Houston, San Antonio, Texas 78205
Telephone Number (210) 821-4105
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Item 5. Other Events
Attached as an exhibit is a press release issued by SBC Communications Inc. on
January 28, 2000 announcing that its board of directors has authorized the
repurchase of up to 100 million shares of the company's common stock.
Item 7. Financial Statements and Exhibits
99 January 28, 2000 Press Release - SBC Board of Directors Authorizes
Common Stock Repurchase Program
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EXHIBIT INDEX
Exhibit Number
99 January 28, 2000 Press Release - SBC Board of Directors Authorizes
Common Stock Repurchase Program
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
SBC Communications Inc.
/s/ Robert B. Pickering
-----------------------------
Robert B. Pickering
Senior Vice President-Finance
(Corporate)
January 28, 2000
Exhibit 99
SBC BOARD OF DIRECTORS AUTHORIZES
COMMON STOCK REPURCHASE PROGRAM
SAN ANTONIO, Jan. 28, 2000 - SBC Communications Inc. (NYSE: SBC)
today announced that its board of directors has authorized the repurchase of
up to 100 million shares of SBC's common stock.
The repurchase program is effective immediately and has no set
termination date.
"SBC's foremost goal is to enhance long-term shareowner value, and we
are pursuing that goal through a variety of growth strategies and investments,"
said Edward E. Whitacre Jr., chairman and chief executive officer. "We will
continue to make value-building investments in our data services, wireless,
international and other businesses. At the same time, the repurchase program
allows SBC to manage its capital structure on an ongoing basis and, in the short
term, take advantage of current market conditions."
Approximately 3.4 billion shares of SBC common stock were outstanding
as of Dec. 31, 1999.
SBC Communications Inc. (www.sbc.com) is a global communications leader.
Through its subsidiaries - Southwestern Bell, Ameritech, Pacific Bell, SBC
Telecom, Nevada Bell, SNET and Cellular One - and world-class network, SBC
provides local and long-distance phone service, wireless and data
communications, paging, high-speed Internet access and messaging, cable and
satellite television, security services and telecommunications equipment, as
well as directory advertising and publishing. In the United States, the company
currently has 90.4 million voice grade equivalent lines, 11.2 million wireless
customers and is undertaking a national expansion program that will bring SBC
service to an additional 30 markets. Internationally, SBC has telecommunications
investments in 23 countries. With more than 204,000 employees, SBC is the 13th
largest employer in the U.S., with annual revenues that rank it among the
largest Fortune 500 companies.
