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HIGHLIGHT 3Large, Italicized and Underscored: V -q2b;Q\<Ep^=-_>8`LETTERHEADLetterhead - date/margins;u H XX  3'3'LetterheadZ K e VE L"n3'3'LetterheadZ K e VE L"nE9    * 3'3'LetterheadZ K e VE L"n3' II"n"Tv3'StandarddZ K e VE L"nU9 Ѓ   INVOICE FEETFee Amount for Math Invoice< ,, $0$0  MEMORANDUMMemo Page Format=D.   ! M E M O R A N D U M ă r  y<N dddy   INVOICE EXPSEExpense Subtotals for Math Invoice>:A ,p, $0$002e?8Lb@cAX%eB[}eINVOICE TOTTotals Invoice for Math Macro?z 4p, $0$00INVOICE HEADRHeading Portion of Math Invoice@+C`*   4X 99L$0 **(  ӧ XX NORMALReturn to Normal TypestyleASMALLSmall TypestyleB2vgC[ fD[efE[fF[gFINEFine TypestyleCLARGELarge TypestyleDEXTRA LARGEExtra Large TypestyleEVERY LARGEVery Large TypestyleF2jGgH}+iIiJ0jENVELOPEStandard Business Envelope with HeaderG+w ,,EnvelopeZ K e VE L"n,,EnvelopeLarge, Italicized and Under;    ,, 88+  `   a1OutlineE+O4*ÿUI. A. 1. a. (1) (a) i) a)4 =(O4WGl *O4H$ a2OutlineE+O4*ÿUI. A. 1. a. (1) (a) i) a)4 =(O4WGl *O4I/ a3OutlineE+O4*ÿUI. A. 1. a. (1) (a) i) a)4 =(O4WGl *O4J: 2mKjLkM -  ЍXxForeign Carrier Entry Order, 11 FCC Rcd at 3954. Generally, these limitations may include the price,   terms and conditions of interconnection, competitive safeguards, and the regulatory framework governing  {O -the relevant market. See id. (#p The commenting  X -parties raise two principal claims of de facto barriers: Germany's lack of an independent  X -regulator and the absence of competitive safeguards. ~#4 {O6-ԍXxACC asserts that DT's interconnection policies are not procompetitive. See Comments of ACC Corp. at 5 (filed Mar. 24, 1997). We find, however, that this argument lacks merit. ACC offers evidence that relates exclusively to wireline interconnection rather than the relevant issue here, wireless termination. The record does not contain any indication that DT has attempted to impose anticompetitive terms and conditions of termination on wireless providers. ACC also claims that DT "will have the incentive and  {O -ability to limit competition on the U.S.Germany route." Id. at 6. Because APC's long distance airtime  {O-(domestic and international combined) accounts for less than one percent of its total traffic, see Reply Comments of APC at 6 (filed Apr. 8, 1997), we find that the U.S.German route is not affected by the proposed investment.(# With regard to the regulatory framework, BTNA, MCI, and ACC note that the present regulator, the Federal Ministry of Posts and Telecommunications (BMPT), is responsible for both telecommunications regulation  X -and supervision of the board that manages the German government's 74 percent ownership interest in DT. These functions, they maintain, pose an inherent conflict which precludes any claim that Germany has an independent regulator. These parties also assert that the new German telecommunications authority, which will assume BMPT's regulatory functions on  Xh-January 1, 1998, will not be sufficiently independent.T"hT #4 {Om-ԍXxSee Letter from Joel S. Winnik and David L. Sieradzki, Counsel for BTNA, to William F. Caton, Acting Secretary, FCC at 3 (filed Mar. 24, 1997) (BTNA Letter); Opposition of MCI Telecommunications Corp. at 23 (filed Mar. 24, 1997) (MCI Opposition); Comments of ACC Corp. at 45.(#T In addition, BTNA and MCI claim that Germany lacks competitive safeguards to assure effective competition, including rules governing cost allocation, a price cap on services that DT provides mobile operators, nondiscriminatory tariffing requirements, timely and nondiscriminatory disclosure of technical  X -network information, and the protection of carrier and customer proprietary information.m >#4 {O&-ԍXxSee BTNA Letter at 23; MCI Opposition at 34.(#m" 0*(("Ԍ X- x15.` ` As an initial matter, we agree that the current regulatory structure in Germany does not establish meaningful separation between the regulatory body and the telecommunications operator. We also have significant concerns that the new regulatory authority, established by the German Telecommunications Act of 1996, may lack the independence necessary to be impartial to all market participants. As noted above, the German government maintains a 74 percent ownership interest in DT. The new regulatory body is set to be located in the Ministry of Economics, which will maintain some authority  X_-over the regulatory body's practices._#4 {O-ԍXxSee Statement of Deutsche Telekom MobilNet GmbH at 6 (attached to Reply Comments of APC).(#Ƙ The Foreign Carrier Entry Order requires that the regulatory authority in the relevant market be independent, empowered, and not have a  X3-conflict of interest in regulating the operator.$3Z#4 {O> -čXxSee Foreign Carrier Entry Order, 11 FCC Rcd at 3894 (referenced in id. at 3954 n.283). Moreover, as noted below, Germany signed the Reference Paper as part of the recent World Trade Organization agreement, which requires the adoption of procompetitive policies including an impartial regulatory  {O-authority. See infra  17.(#Ʋ  X -x16.` ` We note, however, that competition presently exists in the German wireless telecommunications market. As noted above, in addition to T Mobil, two other nationwide wireless providers offer service in Germany and a third entity has just been licensed. As a result, T Mobil asserts, its share of the German wireless telecommunications market is less  X -than 50 percent.z F#4 {O-ԍXxSee Statement of Deutsche Telekom MobilNet GmbH at 3.(#z This also suggests that any de facto barriers in the market for wireless telecommunications services are not a significant impediment to competition.  Xf-x17.` ` Germany, moreover, has made binding commitments to establish an independent regulator and fair rules of competition, beginning January 1, 1998. As part of the World Trade Organization (WTO) agreement signed by 69 countries on February 15, 1997, Germany agreed to open its basic telecommunications markets and abide by the procompetitive regulatory policies that are modelled on our Telecommunications Act of 1996. These regulatory commitments are binding and enforceable and require, among other things, an impartial, independent regulator and the adoption of competitive safeguards to prevent crosssubsidization, preclude use of carrier information for anticompetitive purposes, and provide the timely disclosure of technical network information.  X-x18.` ` In the Foreign Carrier Entry Order, the Commission decided that a favorable ECO finding can be made if "it is reasonably certain that [such opportunities] will be  XT-available in the near future."T#4 {O$-ԍXxForeign Carrier Entry Order, 11 FCC Rcd at 3891 (referenced in id. at 3954 n.283).(#Ɨ We expect that Germany will address our concerns by January 1, 1998. If any regulatory problems do arise, however, the United States can use the WTO dispute settlement process to ensure that Germany fulfills its obligations. On balance, "j 0*((y" therefore, we find that the German wireless telecommunications market satisfies our ECO analysis under Section 310(b)(4).  X-xB.` ` Additional Public Interest Factors  X-x19.` ` Section 310(b)(4) allows the Commission flexibility to permit higher levels of foreign ownership if it is not inconsistent with the public interest. As noted, Germany satisfies the ECO test for wireless telecommunications services, which is one aspect of our public interest determination. The Commission, however, examines other public interest factors as part of its Section 310(b)(4) review. These factors include the general significance of the proposed entry to the promotion of competition in the U.S. market, and any national security, law enforcement, foreign policy, and trade concerns raised by the Executive  X -Branch.| #4 zPe -#c PE37 MP#эXxSee id. at 3955.(#|  X -x20.` ` APC contends that T Mobil's additional investment will allow it "to enhance and build upon its existing PCS network, add new service areas within its MTA, and expand  X-service offerings such as new wireless data transmission services."Z#4 zP-#c PE37 MP#эXxAPC Petition at 67.(#ƀ We agree that T Mobil's additional investment has significant public interest benefits. As we have previously found, "foreign investment provides capital that can fuel investment in stateoftheart infrastructure that leads to economic growth and job formation in the U.S. economy and facilitates  X4-competition among U.S. carriers both at home and abroad."?\4#4 zP-#c PE37 MP#эXxSprint Corporation, Petition for Declaratory Ruling Concerning Section 310(b)(4) and (d) of the  zP-Communications Act of 1934, as amended, Declaratory Ruling and Order, 11 FCC Rcd 11354, 11358 (1996).(#?  X-x21.` ` Furthermore, the WTO agreement represents a significant change in the global telecommunications market, as 69 countries have made commitments to open their basic telecommunications markets to competition and foreign investment. The agreement thus constitutes an important public interest factor in granting APC's request. As part of the agreement, the United States has agreed to allow up to 100 percent indirect foreign ownership of common carrier radio licenses, consistent with the public interest. The U.S. commitments are scheduled to become effective on January 1, 1998. The Commission will commence a rulemaking soon to consider whether and how to modify its rules and policies in light of those commitments.  X - x22. ` ` Accordingly, we conclude that there are significant public interest reasons to allow T Mobil to increase its investment interest in APC from 16 to 25 percent, and that there are no countervailing public interest reasons to deny T Mobil's infusion of capital. "0*(("Ԍ X-x` ` hh@hC" I V. Conclusion ă x  X-x23. ` ` We grant APC's Petition for Declaratory Ruling concerning Section 310(b)(4) of the Act. We find that the denial of T Mobil's proposed investment would not serve the public interest.  x  Xv-P V. Ordering Clauses ĐTP  XH-x24.` ` Accordingly, it is HEREBY ORDERED that the petitioner's request for declaratory ruling IS GRANTED. The level of 34 percent foreign ownership in APC, as described in the petition, is not inconsistent with public interest under Section 310(b)(4) of the Act.  X -x25.` ` This order is effective upon adoption. Petitions for reconsideration under Section 1.106 of the Commission's rules may be filed within 30 days of the public notice of  X -this order (see Section 1.4(b)(2) of the Commission's rules). x` `  hh@FEDERAL COMMUNICATIONS COMMISSION x` `  hh@Peter F. Cowhey  X-x` `  hh@Chief, International Bureau Đ