Tuesday, November 1, 2011 at 2:49PM Utility Telephone Files to Acquire US Telestar Communications
Source: FCC 214 Filing
U.S. Telestar Communications Group, Inc. and Utility Telephone, Inc., filed an application pursuant to section 63.03 of the Commission’s rules for the acquisition of Telestar’s telecommunications customer base and related assets by UTI.
Telestar, a California corporation, provides resold domestic interexchange telecommunications services to a small number of commercial customers in California. The following individuals, all U.S. citizens, directly hold 10% or greater ownership or control interests in Telestar: Timothy Swift (33 percent); Gene W. Harris, Jr. (33 percent); and Edward Wiebe (33 percent).
UTI, also a California corporation, provides facilities-based local exchange, exchange access, and domestic interexchange telephone services in California and Nevada. The following U.S. citizens and entities directly hold 10% or greater ownership or control interests in UTI: Jason Mills (54 percent), and the John K. and Dianne B. La Rue Revocable Trust (La Rue Trust) (46 percent). The La Rue Trust is owned and controlled jointly by John K. La Rue and Dianne B. La Rue, both U.S. citizens, who each hold a 46 percent indirect ownership interest in UTI. There are no other persons who directly or indirectly own, control, or can be attributed with ownership or control of a 10% or greater ownership or control interest in either Applicant.
Telestar and UTI have entered into an asset purchase agreement providing for the transfer of Telestar’s customer base and associated assets to UTI in exchange for cash.
