TAMUNING, Guam-TeleGuam Holdings LLC completed its acquisition of the Guam Telephone Authority, the last government-owned local exchange company in the United States.
TeleGuam will maintain the GTA offices and headquarters in Guam, gaining approximately 350 employees. TeleGuam successfully attained the right to acquire GTA following an extensive bidding process initiated by the government of Guam.
GTA currently provides fixed-line and wireless telecommunications services in Guam. It serves approximately 65,000 telephone access lines and has cellular assets.
TeleGuam is an indirect portfolio company of Shamrock Capital Growth Fund L.P., a private equity fund with investments in media, communications and entertainment affiliated with Shamrock Holdings Inc., the private investment company of the Roy E. Disney family. Financing was provided by a syndicate of banks led by CoBank of Greenwood Village, Colo.
“With a quadruple play of wireline, wireless, broadband and digital entertainment, we expect GTA to make Guam the model for integrated telecommunications providers everywhere,” said Robert Taylor, chief executive officer of TeleGuam Holdings.
