Microsoft, Sprint in Joint Venture

Microsoft Corp. said it is working with No. 3 U.S. long-distance phone company Sprint Corp. to combine phone and data services, and wants to set standards for unified messaging that combines voicemail, e-mail and pages in one in-box. Microsoft and Sprint plan this summer to begin selling systems that manage phone services such as local, wireless and Internet access and also include voicemail and e-mail on a single computer. The partnership is part of Microsoft’s strategy of teaming up with phone companies to get new Internet services to market sooner and drive demand for computers and other devices using its software. Microsoft fell 88 cents to close at $79.38 on Nasdaq, and Sprint fell 75 cents to close at $56.31 on the NYSE.