Spanish firms lead on €7.5bn Portuguese telecoms sale
A trio of Spanish firms have taken roles on one of the largest ever corporate deals in Portugal - Telefonica's e7.5bn (£6.3bn) buyout of Portugal Telecom's (PT's) 50% stake in Brazilian mobile operator Vivo. Cuatrecasas Goncalves Pereira advised Telefonica on the Portuguese side, while Uria Menendez advised Telefonica on Spanish law and Garrigues acted for PT.
August 03, 2010 at 03:00 AM
2 minute read
A trio of Spanish firms have taken roles on one of the largest ever corporate deals in Portugal – Telefonica's €7.5bn (£6.3bn) buyout of Portugal Telecom's (PT's) 50% stake in Brazilian mobile operator Vivo.
Cuatrecasas Goncalves Pereira advised Telefonica on the Portuguese side, while Uria Menendez advised Telefonica on Spanish law and Garrigues acted for PT.
Cuatrecasas finance and capital markets head Maria Joao Ricou said: "The deal involved complex legal issues, considering not only the size and implications of the deal but also the variety of listings.
"Vivo is a listed Brazilian company, while the joint venture between Telefonica and PT is a Dutch company. PT itself is a Portuguese company listed on Euronext Lisbon and in New York, and Telefonica is listed in Spain as well as in New York and London."
The Portuguese Government, which held a significant share in PT, initially blocked the sale in June, citing national interest despite the majority of shareholders voting in its favour. However, on 8 July the European Court of Justice rejected the Government's right to block the deal.
Click here for more international news, comment and analysis
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
A&O Shearman, White & Case Advise on €1.2B Public Takeover of German Steel Giant Salzgitter
3 minute read
Hengeler Advises On €7B Baltica 2 Wind Farm Deal Between Ørsted and PGE
2 minute read
Slaughter and May and A&O Shearman Advise as Latest UK Company Goes American
3 minute readTrending Stories
- 1Chinese Firms Hire Partners from Kirkland and Paul Hastings in Hong Kong
- 2'He Used Some Colorful Language': Yale Defamation Case Survives
- 3Man Charged in Daylong Shooting Rampage in Memphis Is Serving as His Own Lawyer
- 4Counterpoint: FLA Is Committed To the Success of Legal Professionals
- 5Pa. Superior Court Rules Pizza Chain Liable for Franchisee Driver's Crash
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
