[January 04, 2005] TeleGuam Holdings Successfully Completes Acquisition of Guam Telephone Authority Tweet TAMUNING, Guam, Jan. 4 /PRNewswire/ -- TeleGuam Holdings, LLC ("TeleGuam") announced the successful completion of its acquisition of the Guam Telephone Authority ("GTA"), 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 a Government of Guam request for proposal. GTA currently provides fixed line and wireless telecommunications services to the people of Guam. It serves approximately 65,000 telephone access lines and has cellular assets, as well. The management team, which has more than 45 years of experience in many facets of telecommunications, including local, long distance, domestic and international services, will be led by Robert Taylor. TeleGuam is an indirect portfolio company of Shamrock Capital Growth Fund, L.P. ("SCGF"), 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, Colorado. "This acquisition will allow GTA to offer new products and services formerly unavailable from the government-owned company," said Robert Taylor, chief executive officer of TeleGuam Holdings. "New telecommunications services will drive business growth, investment and improved quality of life on Guam. With a quadruple play of wireline, wireless, broadband and digital entertainment, we expect GTA to make Guam the model for integrated telecommunications providers everywhere." The privatization comes at an important time for Guam, with anticipated growth in military presence and the need for improvements in the quality and breadth of communications services. By expanding from local services into long distance services, data and broadband, wireless services and digital entertainment, TeleGuam expects to offer the residents of Guam a complete and affordable telecommunications product. For more information, contact: TeleGuam Holdings Corporate Communications: Rob Smith, [email protected], (671) 646-1427 This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com/. TeleGuam Holdings, LLC CONTACT: Rob Smith, TeleGuam Holdings Corporate Communications,+1-671-646-1427, [email protected] [ Back To TMCnet.com's Homepage ]