Search results for

Pillsbury Winthrop of the US and Mexico's Creel, Garcia-Cuellar y Muggenburg have advised UK mobile phone company Vodafone on its first bid to establish a market in Latin America. Last month the company bought a 34.5% stake in Grupo Iusacell from the Peralta family for $973.4 million. Iusacell is Mexico's second largest mobile operator after Telefonica of Spain. The deal is being seen as a much needed boost for Iusacell, which last October lost out to Telefonica in negotiations to acquire five mobile phone companies operating in the north of the country.

Despite a slowing economy, the turf war in New York between established firms and new entrants continues to grow ever more aggressive, with mid-size firms coming under the greatest pressure.

Lovells has represented the world's oldest mutual life assurer, the UK's Equitable Life, in a sell-off that has dominated the British business press.

Corporations will have to endure mounting legal bills and poorer service unless the rules governing lawyers are changed, a US antitrust organization has warned.

Clifford Chance will soon offer one-stop legal advice in Tokyo thanks to a joint venture with a local Japanese firm. Just over one year after mergers with US firm Roger & Wells and German firm Pünder, Volhard, Weber & Axster, Clifford Chance is tying up with Japan's Tanaka & Akita. However, this latest deal is hardly likely to overshadow the firm's landmark mergers in the US and Germany. When Tanaka & Akita goes ahead with the joint venture on May 1 it will add 10 lawyers to the 28 Clifford Chance already has in its existing Tokyo office. The joint venture will operate from the existing offices of Clifford Chance and will be known as Clifford Chance and Tanaka & Akita (T&A). Never let it be said that lawyers are afraid of change.

The Commodity Futures Modernization Act will revolutionize the regulation of derivatives trading in the US by loosening the ties on larger market users and allowing the SEC to take part. Philip McBride Johnson of Skadden, Arps, Slate, Meagher & Flom reviews the Act

Structural and cultural obstacles within South Korea's takeover market may stifle plans by the government to boost mergers and acquisitions (M&A) activity in the country, say some lawyers.

Strategic Defence Take-over Insurance (SDTI) was recently launched by Lloyd's in the US, offering companies coverage in the event of hostile bids and proxy contests. Companies purchase an option which guarantees the right to secure an insurance policy, in the event that a hostile bid is received by a target company. Insured companies are reimbursed for direct costs associated with a hostile bid. The costs include expenditures on investment bankers, public relations/ advertising firms, legal advisers, proxy solicitation costs, and printing and mailing costs.

After High Court decision No. 14899/2000, the Italian Council of Ministers issued, on December 29 2000, Law Decree No. 394, on the subject of usurious loans. It aims to avoid the negative consequences that the Bank of Italy and the Italian Banking Association had anticipated would be produced by the Court's decision on the stability of the entire credit system.

A three-way merger in Europe could create the world's largest steel group. French company Usinor is merging with Luxembourg's Arbed and Aceralia in Spain to form an as yet unnnamed combined steemaker, which will be based in Luxembourg. The merger is expected to complete in autumn 2001. Aceralia shareholders will hold 20% of the company, while Arbed shareholders will control 23%. Usinor investors will hold the biggest share, with 57%. The company, which will list on Euronext, Luxembourg and Madrid, should be able to produce 46 million tons a year. It will have a market capitalization of $4.5 billion.