Why do they want or think they need to own a telecoms company?
It's a recently set up telecoms company of no stock value owned by a prominent 'brother' that the WTS can use to cheaply install a high capacity dark-fiber communications system in its shiny, new compounds. Seeing as Latchman was the sole shareholder, if anything happened to him, the company may have ended up in disarray or collapsing which would jeopardize the installation and running of the service (see p. 5 of the Petition). So the WTS wanted to buy him out and take over the company to ensure future stability. That's what I take from it, anyway.