EC clears last hurdle for Global One

The European Commission granted final regulatory approval to the Global One alliance last week, removing the last hurdle to the joint venture between Sprint, France Telecom and Deutsche Telekom. Global One received Federal Communications Commission and Department of Justice approval last December and preliminary approval from the European Commission last October. The alliance announced the closing of the joint venture in January, at which time France Telecom and Deutsche Telekom each acquired 7.5% of Sprint's common stock. The European Commission also granted final approval to the Atlas alliance between France Telecom and Deutsche Telekom but stipulated that the two companies cannot cross-subsidize their joint venture or discriminate against other market players. France Telecom and Deutsche Telekom each own 50% of the Atlas joint venture. Global One targets large companies with international telecom operations and offers carriers services such as management of back-office network operations. The alliance also plans to market a calling card for consumers traveling internationally.