Changes at US Sprint Parent: United Telecom...
From Times Staff and Wire Reports
Changes at US Sprint Parent: United Telecom said it will exercise its option to buy GTE’s remaining 19.9% stake in what originally was a 50-50 joint venture that created US Sprint in July, 1986. The firm now owns 80.1% of US Sprint, which has become the nation’s third-largest long-distance carrier. Shareholders at United Telecom’s annual meeting in Kansas City, Mo., also overwhelmingly approved changing the parent firm’s name to Sprint Corp. to capitalize on the subsidiary’s more widely recognized name.