The FCC recognized United Telecommunications’ increased stake...

The FCC recognized United Telecommunications’ increased stake with GTE Corp. in the two firms’ US Sprint venture--formerly a 50-50 partnership--in approving United Telecom’s new role as general partner. GTE is selling 30.1% of its investment in the long-distance carrier to United Telecom, effective Jan. 3, while retaining a 19.9% limited partnership interest. United Telecom will hold an 80.1% interest and an option to buy out GTE’s remaining investment by 1996 in the venture now to be named US Sprint Communications Co. or US Sprint LP.