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Global One sale nears?
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December 23, 1999: 7:31 a.m. ET
Report: France Telecom, Deutsche Telekom vie for control of troubled venture
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LONDON (CNNfn) - Sprint is close to selling its stake in Global One to its joint venture partners Deutsche Telekom and France Telecom, according to a report published Thursday.
The U.S., German and French companies formed Global One in 1994 to provide telecom services to multinational businesses. However, its future has been uncertain because of disagreements between the partners over strategy.
Sprint has been seeking to sell its 50 percent stake in the venture following its plan to merge with MCI Worldcom (WCOM), announced in October.
The Wall Street Journal reported Thursday that Sprint (FON) was close to a sale of the stake, quoting people close to the deal. But the three Global One owners declined to comment.
Either Deutsche Telekom or France Telecom - former allies who have fallen out in recent months - is expected to n buy out the remaining partner to assume full control of Global One.
Telekom chief executive Ron Sommer said earlier this week that the sale might take the form of a blind auction. 
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