Suzanna Kerridge, Paris correspondent
Published: 26 April 2000 16:33 GMT
The German Federal Cartal Office has approved a joint venture between MobilCom and France Telecom, created to launch a bid for a UMTS licence.
The bid will be made under the MobilMultimedia name and if successful will allow the companies to provide the German market with mobile phone, fixed network and Internet services.
The two companies originally signed an agreement on 23 March this year. Under the terms of the deal, France Telecom gained a 28.5 per cent stake in MobilCom.
MobilCom's shares rose three per cent on the news of the approval.
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