Zayo Group Holdings, Inc. (NYSE: ZAYO) announced that the company´s board of directors has authorized a six-month share repurchase program, the company said.
The share repurchase program authorizes up to USD 500 million for the repurchase from time to time in open market transactions at prevailing market prices, in privately negotiated transactions or by other means in accordance with the federal securities laws. The actual timing, number and value of shares repurchased under the program will be determined by Zayo in its discretion and will depend on a number of factors, including the market price of the common stock, general market and economic conditions, applicable legal requirements and other factors.
Zayo Group Holdings provides communications infrastructure solutions, including fiber and bandwidth connectivity, colocation and cloud infrastructure to the world´s businesses. Customers include wireless and wireline carriers, media and content companies and finance, healthcare and other large enterprises. Zayo´s 128,000-mile network in North America and Europe includes extensive metro connectivity to thousands of buildings and data centers. In addition to high-capacity dark fiber, wavelength, Ethernet and other connectivity solutions, Zayo offers colocation and cloud infrastructure in its carrier-neutral data centers. Zayo provides users with flexible, customized solutions and self-service through Tranzact, an innovative online platform for managing and purchasing bandwidth. For more information, visit zayo.com.