France Telecom to Buy 100% Global One

Thursday, January 27, 2000

rench telecommunications company France Telecom (NYSE: FTE) has bought out its two partners in the joint venture Global One for a total of US$3.88bn, the company reported yesterday. France Telecom acquired 100% control from US-based operator Sprint (NYSE: FON) and Germany's Deutsche Telekom (NYSE: DT).

France Telecom's strategic ambition in the global corporate solutions business is to become a key player in managed data networks and IP-based communication and hosting, and will use the synergies between Global One and its existing data subsidiary.

The acquisition of Global One also allows France Telecom to develop a leading voice and IP carrier wholesale business, leveraging its extensive network reach, marketing and sales activity, as well as creating significant operating synergies, the company reported.

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Created in January 1996 as a joint-venture between France Telecom, Deutsche Telekom and Sprint, Global One is a leading corporate telecom service provider with revenues in 1999 of US$1.1bn.