Belzberg urged GTE to sell US Sprint.

In a letter to GTE Chairman Theodore F. Brophy, First City Financial Corp. Chairman Samuel Belzberg recommended the spinning off of GTE’s long-distance phone venture, which would cut the parent’s losses, boost its stock price and provide shareholders with a gain of up to $6 a share, Belzberg claimed. The bank, 67% owned by the Belzberg family, has acquired a stake in GTE of less than 5%. GTE owns a 50% interest in US Sprint, a joint venture with United Telecommunications.