FCC Seeks Comment on West Takeover of HyberCube, West IP
West Corp.'s proposed takeover of HyberCube and West IP Communications in a corporate restructuring was teed up for comment, the FCC Wireline Bureau said in a public notice Monday in docket 15-163. Initial comments are due Aug. 3, replies Aug.…
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10. HyperCube provides wholesale tandem switching and transport services, termination services and other services to telecom and information service providers, and West IP primarily provides VoIP service to business customers, the PN said. Publicly traded West Corp. provides a broad range of communications and network solutions to business customers through its direct or indirect control of several subsidiaries -- including HyperCube, West IP, Intrado Communications and InterCall -- and its primary shareholders are funds managed by Thomas H. Lee Partners (THL Funds), the Quadrangle Group and Gary West and Mary West, the notice said. In their application to transfer control of FCC licenses, West Corp., HyperCube and West IP said the "THL Funds and the Quadrangle Funds have agreed to act together on certain matters with respect to West [Corp.] and its subsidiaries," the PN said. The applicants also said the THL Funds and Quadrangle Funds propose to reduce their shares of West Corp. common stock, which "may materially reduce" their total holdings below 10 percent of the outstanding voting shares of West Corp. and thereby eliminate their "ability to exercise substantial influence over the policies and actions of West [Corp.] and its subsidiaries." That's according to the notice, which noted the applicants assert their transaction is entitled to streamlined regulatory review.