Freshfields Bruckhaus Deringer has won a major Middle Eastern client, advising Saudi Telecom Company (STC) on its $3.05bn (£1.5bn) acquisition of a 25% stake in a Malaysian telecoms operator.

The transaction, STC's first international investment, is also the first publicly-announced deal Freshfields has handled for the client.

STC acquired the stake in Malaysian operator Maxis Communications, plus a 51% stake in Maxis' Indonesian operation, NTS. Freshfields Dubai corporate partner Bruce Embley led the team advising STC, assisted by intellectual property/IT partners Connie Carnabucci in Hong Kong and Natasha Good in the UK.

Embley said: "We have been working out which clients we want to build institutional relationships with and are very pleased with the STC relationship. It is one of the biggest companies in the region."

He added: "This is going to be a landmark deal in the sector. There has been a lot of Middle Eastern investment that has gone west, but not so much that has gone east."

Clifford Chance (CC) advised Maxis, with Singapore managing partner Philip Rapp leading the team assisted by Singapore-based assistant Lee Taylor and consultant Jon Worsfold.

Freshfields is among a raft of UK firms to have targeted Middle East investment in the last year. In May CC relocated London corporate partner Iain Hunter to Dubai in a bid to win investment mandates coming from the region.

Saudi Arabia has been particularly active, with firms including Denton Wilde Sapte and Allen & Overy recently securing alliances in the country. Freshfields has four Saudi-qualified lawyers and works regularly with local practice Salah Al-Hejailan.

Other recent telecoms deals in the Middle East have included the Qatar company Qtel's acquisition of a controlling stake in Kuwait firm Wataniya. The deal, which closed earlier this year, saw Trowers & Hamlins advise Qtel, while the vendor instructed Weil Gotshal & Manges.