TELECOMMUNICATIONS

FCC Readies Rules on Foreign Telecom Investment: In an effort to pry open overseas communications markets for U.S. companies, the Federal Communications Commission is set to adopt new rules governing foreign investment in the U.S. telecommunications industry. The plan spells out how the agency can block large-scale investments by foreign companies in U.S. telephone carriers, if it determines that the home countries of those companies are curbing the access of U.S. firms. Experts argue the U.S. market is far more open than those in Europe and Asia. The plan also is meant to spur overseas communications concerns to invest in their U.S. counterparts, so U.S. carriers have the cash needed to compete globally. The FCC is expected to adopt the proposal at a public meeting Tuesday. FCC and industry officials said approval will pave the way for the FCC to rule next month on the $4-billion investment by France Telecom and Deutsche Telekom in Sprint Corp.