SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 26, 2000
SPRINT CORPORATION
(Exact name of Registrant as specified in its charter)
Kansas 1-04721 48-0457967
(State of Incorporation) (Commission File Number) (I.R.S. Employer
Identification No.)
2330 Shawnee Mission Parkway, Westwood, Kansas 66205
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (913) 624-3000
(Former name or former address, if changed since last report)
P. O. Box 11315, Kansas City, Missouri 64112
(Mailing address of principal executive offices)
Item 5. Other Events
Agreement to Sell Interest in Global One Joint Venture
On January 26, 2000, Sprint Corporation ("Sprint") announced that
it had entered into a definitive agreement with Deutsche Telekom ("DT")
and France Telecom ("FT") to sell Sprint's interest in Global One, the
three companies' international telecommunications venture, for $1.13
billion in cash and the repayment of $276 million in debt. As part of
the agreement, DT and FT have assumed sole responsibility for funding
the needs of Global One.
The agreement also includes provisions related to the investment
of DT and FT in Sprint. Once the stockholders of Sprint vote on the
merger of Sprint and MCI WorldCom, Inc., the following applies:
- DT and FT will be relieved of certain significant limitations on
transfers of their equity interests in Sprint FON Stock and Sprint PCS
Stock.
- DT and FT will relinquish their special rights as Class A
stockholders and resign their seats on Sprint's board of directors.
- Sprint will relinquish its first right to purchase the FON Stock
and PCS Stock in the event of a sale by DT or FT but will retain
certain consultation rights in conjunction with the sale.
DT and FT have also agreed to vote their shares in favor of Sprint's
merger with MCI WorldCom, Inc.
The sale of Sprint's interest in Global One is expected to close
within the next few months.
Additional information concerning the agreement is contained in
the news release relating to the sale, a copy of which is filed as
Exhibit 99A hereto and is incorporated herein by reference.
Fourth Quarter 1999 and Calendar Year 1999 Results Announced
On February 1, 2000, Sprint announced fourth quarter 1999 and
calendar year 1999 results in both its FON Group and its PCS Group.
Information concerning the results is contained in the news release, a
copy of which is filed as Exhibit 99B hereto and is incorporated herein
by reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
2 Master Transfer dated January 21, 2000, between and
among France Telecom, Deutsche Telekom AG, NAB
Nordamerika Beteiligungs Holding GmbH, Atlas
Telecommunications, S.A., Sprint Corporation, Sprint
Global Venture, Inc. and the JV Entities set forth on
Schedule II thereto (including as Annexes the
Modifications to the Joint Venture Agreement and the
Proxy).
99A News Release Relating to the Agreement to Sell Stake in
Global One Venture.
99B News Release Relating to Fourth Quarter 1999 and
Calendar Year 1999 Results.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, hereunto duly authorized.
SPRINT CORPORATION
Date: February 1, 2000 By: /s Michael T. Hyde
Michael T. Hyde
Assistant Secretary
EXHIBIT INDEX
Exhibit
Number Description
Page
2 Master Transfer dated January 26, 2000, between and
among France Telecom, Deutsche Telekom AG, NAB
Nordamerika Beteiligungs Holding GMBH, Atlas
Telecommunications, S.A., Sprint Corporation, Sprint
Global Venture, Inc. and the JV Entities set forth on
Schedule II thereto (including as Annexes the
Modifications to the Joint Venture Agreement and the
Proxy).
99A News Release Relating to the Agreement to Sell Stake in
Global One Venture.
99B News Release Relating to Fourth Quarter 1999 and Calendar
Year 1999 Results.