Star Telecommunications Inc has completed its purchase of LD Services Inc, announced in September (CI No 3,240). The deal was sealed through the issuance of 414,292 shares of Star common stock, far fewer than the 500,000 originally reported. At current trading prices, LD is being valued at $12m. Star, which resells long distance services wholesale to other long distance carriers, says the purchase of LD is a launching pad for entry into the commercial long distance market. LD will give Star a presence in Texas, Florida and California. Star figures the acquisition to be accretive in fiscal 1998. Last month, Star furthered its move into the commercial space with the acquisition of business long- distance provider United Digital Network Inc for about $25m in shares (CI No 3,294).
