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UK firms Denton Hall, Richards Butler and Theodore Goddard are engaged in talks regarding a possible tripartite merger. If successful, the merger would produce the seventh largest law firm by lawyers based in the UK, and would have offices in 17 jurisdictions. Negotiations began in August and remain at an early stage of development. However, a plan for the merger may be put to partners by the end of the year. The new firm would have a significant global presence. Richards Butler has offices in Paris, Brussels, Piraeus, Warsaw, Beijing, Hong Kong, São Paulo, Oman, Islamabad, Qatar and Abu Dhabi. The firm is also considering opening an office in Azerbaijan, where the new oil industry has stimulated foreign investment. Denton Hall has offices in Brussels, Moscow, Beijing, Hong Kong, Tokyo, Singapore and New York. Theodore Goddard has an office in Brussels and associate offices in Paris and Jersey.

Freshfields, in a further move to build its US offices, has poached four partners from New York firm Milbank Tweed Hadley and McCloy. Ted Burke (project finance), Jonathan Rod (project bond finance) and Brian Rance (structured finance and derivatives) will join as partners in the New York office. Gregory May (tax) will join the Washington, DC office. Freshfields is concentrating on building up its project finance practice. Ian Terry, managing partner, says: "We will now have project finance specialists in all of the major jurisdictions. Expansion in the US will enable us to consolidate our practice with our US client base."

Emile du Toit, general manager legal services at Absa, talks to Samantha Swiss about developing a group team after a merger

Facing addressive competition on three fronts, French firms need to abandon their approach to stay in the front rank. Barbara Galli reports from Paris

A recent Court of Appeal decision (Russell McVeagh McKenzie Bartleet v Tower Corporation) provides a useful indication to New Zealand law firms of the judiciary's approach to Chinese walls in large firms.

Additional First Provision of Law 28 of July 13 1998 on Installment Sales, in force as from September 13, has solved some of the traditional legal issues concerning financial leasing transactions. The law's main features are as follows.

The Monetary Authority of Singapore (MAS) has announced measures to relax the restrictions on the use of the Singapore dollar while adhering to its basic policy of not encouraging the internationalization of the Singapore dollar.

Though the word privatization is still not in the official lexicon, China’s latest moves to retreat from state-owned enterprise and invite private investment offer privatization opportunities to brave foreign investors. By Jingzhou Tao of Coudert Brothers, Beijing

As a participating member state in the first group of countries to adopt the single currency in 1999, Portugal must ensure a smooth and effective transition to the euro in respect of the securities market.

UK firm Clifford Chance is advising on the UK government's plans to raise finance for the Channel Tunnel rail link. Andrew Taylor, capital markets partner at Clifford Chance, is legal counsel to the UK investment bank Schroders, the financial advisers to the government. The government put forward proposals to the markets last week for a three tranche bond. In total the government plans to issue £2.65 billion (US$4.3 billion) of bonds with maturities of 12 years, 30 years, and between 30 and 40 years.