Telcordia Seeks Quick FCC Approval of Code/Trust Changes, Possible Transfer of Control
Telcordia/iconectiv asked the FCC to approve changes to its code of conduct and voting trust, and if necessary, transfer of control, without waiting for replies due Tuesday. Telcordia/iconectiv, the incoming local number portability administrator (LNPA), said it didn't plan to…
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reply. "Prompt approval would allow the parties to move forward to diversify Telcordia’s ownership and to bring about the other public interest benefits of the transaction," said a Telcordia/iconectiv counsel filing Wednesday in docket 09-109 on a conversation with Wireline Bureau officials. The trust holds the voting stock in iconectiv owned by its only current shareholder, Ericsson Holdings II. The trust and the code are intended to ensure Ericsson won't exert undue influence on iconectiv -- which is taking over LNPA duties from Neustar -- in favor of any telecom service provider, said the approval request of Telcordia/iconectiv and FP Investors, which plans to acquire a minority stake in iconectiv (see 1704030034). They said the transaction will bolster "iconectiv's neutrality" and eliminate a possible legal dispute under Delaware corporate law.