19.9. 96 Official Journal of the European Communities No L 239/57 COMMISSION DECISION of 17 July 1996 relating to a proceeding under Article 85 of the EC Treaty and Article 53 of the EEA Agreement (Case No IV/35.617 — Phoenix/GlobalOne) (Only the English, French and German texts are authentic) (Text with EEA relevance) (96/547/EC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, Having regard to the Agreement on the European Economic Area, Having regard to Council Regulation No 17 of 6 February 1962, First Regulation implementing Articles 85 and 86 of the Treaty(!), as last amended by the Act of Accession of Austria, Finland and Sweden, and in particular Articles 2, 6, and 8 thereof, Having regard to the application for negative clearance and the notification for exemption submitted, pursuant to Articles 2 and 4 of Regulation 17, on 29 June 1995, Having regard to the summary of the application and notification published pursuant to Article 19 (3) of Regulation 17 and to Article 3 of Protocol 21 of the EEA Agreement (?), After consultation with the Advisory Committee for Restrictive Practices and Dominant Positions, Whereas: 1. THE FACTS A. INTRODUCTION 1. The Phoenix transaction was notified to the Commission on 29 June 1995. The notifying parties announced a new name, GlobalOne, at the signature of the agreements on S5 March 1996. This transaction is linked to a separate transaction creating a joint venture, Atlas, owned as to 50 % by France Télécom (FT) and as to 50% by Deutsche (1) OJ No 13, 21. 2. 1962, p. 204/62. (!) OJ No C 337, 15. 12. 1995, p. 13. Telekom (DT), given that Atlas is a parent to the joint venture entities created pursuant to the Phoenix agreements. A separate Decision in Case IV/35.337 (‘the Atlas Decision’) (*) exempts the Atlas agreements, notified on 16 December 1994, from the application of Articles 85 (1) of the EC Treaty and 53 (1) of the EEA Agreement. 2. The Phoenix agreements consist of two main transactions involving two Community telecommunications organizations (TOs) and one United States telecommunications operator: (i) FT and DT each acquired an equity stake of approximately 10% in Sprint, worth United States $3,7 billion. Both FT and DT obtained proportionate board representation and investor protection as minority shareholders in Sprint; as detailed below, provisions have been included in the investment agreement to prevent DT and/or FT, either separately or jointly, from controlling or influencing Sprint; and (i) Atlas and Sprint created a joint venture, Phoenix, for the provision of non-reserved global telecommunications services and other telecommunications services to corporate users, carriers and consumers. The Phoenix joint venture is structured into groups of operational entities under the strategic supervision of a Global Venture Board (collectively referred to as the ‘Phoenix entities’). One group of entities provides Phoenix services worldwide except in Europe and the United States (the ‘Rest Of World (ROW) entities’), a second group of entities provides Phoenix services in Europe except in France and Germany (the ‘Rest of Europe (ROE) entities’). The ROW and ROE entities also manage Phoenix’s global backbone network until the parties reach agreement on management by an already created third entity (the ‘Global Backbone Network (GBN) entity’). The Global Venture Board shall take decisions on matters of policy only and not engage in the (%) See p. 23 of this Official Journal.