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To: zbyslaw owczarczyk who wrote (11616)	5/26/1999 9:22:00 AM
From: zbyslaw owczarczyk	Respond to of 18016

Deutsche Telekom Says It'll Keep Stake in Global One (Update1) (Adds France Telecom no comment in 4th paragraph.) Bonn, May 26 (Bloomberg) -- Deutsche Telekom AG said it will keep its stake in Global One, a venture with France Telecom SA and Sprint Corp., as Europe's largest phone company continues its international expansion after failing to buy Telecom Italia SpA. Olivetti SpA's success Friday in buying more than half of its larger Italian rival quashed Telekom's dream of creating a pan-European phone company capable of competing with U.S. rivals like AT&T Corp. It also left Telekom estranged from long-time partner France Telecom, raising speculation about the future of their partnerships such as Global One. ''Deutsche Telekom is sticking to its international strategy to create a European company with global reach,'' the company said. ''There is no alternative to this goal.'' France Telecom sued Deutsche Telekom after the bid for the former Italian monopoly was announced, claiming the German company broke partnership agreements signed last year. The Paris- based company declined to comment today. The Bonn-based company said Telecom Italia ''was and is'' an excellent partner, adding it's considering the alternatives following Olivetti's victory. ''The industrial logic remains. A merger with Telecom Italia is not the only way to achieve this goal,'' Deutsche Telekom said. Armed with as much as $11.4 billion from a planned share sale next month, analysts and investors expect the former German monopoly to look to the U.S. and at the U.K. in its hunt for acquisitions