Guam telecoms provider bought by Huntsman Family Investment
Jon Huntsman Jr, US ambassador to China until 2011, is an advisor to Utah-based firm which has bought of GTA Teleguam
Huntsman Family Investment, a privately-held investment company advised by former US ambassador to China, Jon Huntsman Jr, is buying the leading telecommunications provider in Guam.
The Salt Lake City, Utah-based Huntsman Family Investments (HFI) did not disclose how much it is paying Japanese firm Advantage Partners for its acquisition of the Guam telecommunications firm, GTA Teleguam.
Huntsman Jr was United States Ambassador to Singapore from 1992 to 1993, and China from 2009 to 2011.
Indonesia’s largest telecommunications operator, PT Telekomunikasi Indonesia Tbk, in May 2015 agreed to pay US$300 million for GTA Teleguam, but dropped the deal a year later following uncertainties in the regulatory process.
GTA Teleguam provides wireless, high-speed internet, IPTV and fixed voice services in Guam. The company is also a part of a consortium of US and Asian telecommunications companies that are constructing SEA-US, a new submarine cable system to connect Southeast Asia and the
US via Guam.
“This transaction represents our first investment in Guam and we are excited to be associated with the
premier provider of telecommunications services on the island. We are committed to ensuring our
customers have the highest-quality experience,” said president and chief executive of
Huntsman Family Investments, Paul Huntsman, in a statement.
Benjamin Wu, partner at Huntsman Family Investments, said that Guam plays a “critical role” in representing the US’s interests in the Pacific.
“Furthermore, Guam is a gateway between Asia and the US and it is crucial that we continue building GTA’s network infrastructure to meet our customers’ growing demand for secure international connectivity,” Wu said.
Under the ownership of HFI, GTA Teleguam will continue to be locally managed and operated.
The deal is expected to close by the end of the year, pending regulatory approvals.