Shearman Joins UK Trio On £31 Billion O2-Virgin Media Merger
The merger will create a £31 billion media and telecoms giant.
May 07, 2020 at 04:39 AM
3 minute read
Shearman & Sterling has joined Allen & Overy, Clifford Chance and Herbert Smith Freehills on the agreement between Liberty Global and Telefónica to merge their U.K. operations bringing together Virgin Media and O2 in a 50-50 joint venture.
The transaction is expected to allow for a £10 billion investment into the U.K across the next five years, and will create a £31 billion media and telecoms giant. O2 is the U.K.'s largest mobile platform, while Virgin Media is the fastest broadband network.
U.S. firm Shearman and A&O are advising Liberty Global, according to a company statement. Shearman is acting as U.S counsel to Liberty Global. The team is made up of New York-based partners George Casey, Doreen Lilienfeld, Harald Halbhuber, Daniel Litowitz and London-based partners Nick Withers and Simon Burrows.
The A&O team includes partners Nicholas Clark, Antonio Bavasso and Jeremy Parr.
Telefónica has turned to long-time adviser Herbert Smith and Clifford Chance, its statement said.
The HSF team is fielded by partners David Coulling and Gavin Davies, while the Clifford Chance team is being led by joint head of corporate Melissa Fogarty and made up of partners Nigel Wellings and Jennifer Mbaluto.
HSF also advised Telefónica on plans for an initial public offering in 2016.
Liberty Global previously called on Freshfields Bruckhaus Deringer in 2018 as Vodafone acquired its European assets.
The transaction is expected to close in the middle of 2021.
Telefónica CEO Jose Maria Alvarez-Pallete said in a company statement: "Combining O2's number one mobile business with Virgin Media's superfast broadband network and entertainment services will be a game-changer in the U.K., at a time when demand for connectivity has never been greater or more critical."
Miguel Odriozola, head of the Clifford Chance antitrust team in Spain and Telefonica relationship, said: "The merger between O2 and Virgin Media demonstrates the continued appetite for global M&A activity, despite the ongoing uncertainty in the wider economy as a result of COVID-19.
"We were delighted to assist Telefonica in agreeing the deal and helping them to create a leading telecommunications platform with strong foundations for future communications and technological developments."
|Read More:
Herbert Smith Freehills and Ashurst dial in for lead roles on O2 IPO
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 AllGibson Dunn Sued by Crypto Client After Lateral Hire Causes Conflict of Interest
Australian Corporations More Concerned About Class Actions Risk, HSF Report Finds
3 minute readSingapore Oil Tycoon Appeals 17.5 Year Prison Sentence In Fraudulent Trading Case
Charles Russell Speechlys Opens in Milan to Focus on Ultra-High Net Worth Clients
Law Firms Mentioned
Trending Stories
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