A group of investors that includes Walter Scheuer, chairman of Sterling Capital Corp., said it holds a 6.91% stake in CST Entertainment Imaging Inc.’s common shares outstanding. In a filing with the Securities & Exchange Commission , the group said it holds 1,308,300 CST Entertainment Imaging shares, which it purchased on behalf of several trusts.

GTE Telephone Operations plans to build 50 fiber-optic networks in 12 states at a cost of $ 240 million. The company said Tuesday that the advanced fiber-optic rings, known as Synchronous Optical Networks, will be installed this year and early next year. The first of GTE’s rings is already in service in the L.A. area. In addition to enhancing telephone service, the fiber-optic highways will give customers access to multimedia services such as electronic shopping and interactive videoconferencing, GTE said.

Starting this fall, officially licensed Walt Disney Co. characters such as Mickey Mouse will appear in Saudi Arabia, company exex said. Disney entered a joint venture with Saudi company Contracting & Trading, under which it will enter the Saudi market with T-shirts, children’s toys and other goods bearing Disney’s 170 characters.