Wednesday, November 12, 2008

Tellabs Intends to Resume Common Stock Repurchases

Tellabs announced plans to resume its common stock repurchases under an existing Board of Directors authorization, previously announced on Nov. 8, 2007. Over the next four quarters, the company may repurchase up to $100 million (about 7.1% of shares at Wednesday's closing price) under the previously announced repurchase program. The resumption follows Tellabs' significant curtailment of stock repurchases since the second quarter of 2008, as the company re-evaluated uses of cash.

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