Norton Rose and Gide among line-up on France Telecom's purchase of Congo China Telecom
Gide Loyrette Nouel and Norton Rose are among a raft of law firms to have picked up roles on France Telecom-Orange's acquisition of Congo China Telecom (CCT). The deal saw France Telecom acquire Chinese telecoms equipment manufacturer ZTE Corporation's 51% stake in CCT for $10m (£6.3m) and the Democratic Republic of Congo Government's 49% share for $7m (£4.4m).
November 02, 2011 at 08:03 PM
2 minute read
Gide Loyrette Nouel and Norton Rose are among a raft of law firms to have picked up roles on France Telecom-Orange's acquisition of Congo China Telecom (CCT).
The deal saw France Telecom acquire Chinese telecoms equipment manufacturer ZTE Corporation's 51% stake in CCT for $10m (£6.3m) and the Democratic Republic of Congo Government's 49% share for $7m (£4.4m).
Gide acted for France Telecom on the deal, with senior Paris lawyer Renaud Rossa leading on all M&A aspects alongside Paris/China M&A partner David Boitout. The team also included Paris media, IT and telecoms partner Remy Fekete and London finance partner Margaret Boswell.
Skadden Arps Slate Meagher & Flom acted as legal counsel for ZTE, which will continue to provide network equipment and services to CCT, with Paris M&A partner Pierre Servan-Schreiber at the helm. Meanwhile, Norton Rose Paris corporate partner Poupak Bahamin advised the Democratic Republic of Congo.
White & Case Beijing banking, capital markets and restructuring partner Baldwin Cheng acted for China Development Bank, which is providing financing support for the deal, which also sees CCT pay $71m (£44m) to the local Government for improved licence terms.
Fekete commented: "It was a very large deal in terms of its complexity. We had to ensure that our bases were covered in terms of M&A, the financing and privatisation process and the regulatory aspects, not to mention dealing with English law, Chinese and Hong Kong law, telecom regulations and Congolese law."
With a population of more than 70 million, Congo is the fourth most populated African country but has a mobile penetration rate of only 17%, offering significant growth opportunities for France Telecom.
This content has been archived.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
© 2024 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 AllHong Kong IPO Market Shows Signs of Slow but Steady Recovery
Mexico's Judicial Reforms and the Implications for Foreign Investors
5 minute readDavis Polk, Gibson Dunn Advise on Nippon Paint's $2.3B Chemical Company Buy
Trending Stories
- 1Infant Formula Judge Sanctions Kirkland's Jim Hurst: 'Overtly Crossed the Lines'
- 2Abbott, Mead Johnson Win Defense Verdict Over Preemie Infant Formula
- 3Preparing Your Law Firm for 2025: Smart Ways to Embrace AI & Other Technologies
- 4Greenberg Traurig Initiates String of Suits Following JPMorgan Chase's 'Infinite Money Glitch'
- 5Data-Driven Legal Strategies
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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