Deutsche Telekom, France Telecom and Sprint
closed the deal on their new global telecommunications joint venture--Global One. Previously known under the project name "Phoenix," Global One is a combination of several businesses--including Atlas, the newly created joint venture between France Telecom and Deutsche Telekom--spun together from the three parent companies, with anticipated revenues in its first year of $800 million. Global One will offer advanced voice and data service for businesses, carriers and consumers. Deutsche Telekom and France Telecom invested an estimated $3.5 billion in Sprint as part of Global One.