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Two recent changes to Vietnam's banking laws have been heavily criticized by foreign bankers. Circular No. 07/TT-NH1 dated December 27 1996 concerning bank cheques, which came into force on April 1 1997, imposes tight restrictions on the use of cheques within Vietnam.

US company SBC Communications has completed its US$16.5 billion acquisition of the Pacific Telesis group. The merger creates the largest US provider of local telephone services, with a market value of US$47.9 billion. The merger was completed after approval from the California Public Utilities Commission.

Kramer, Levin, Naftalis & Frankel, New York, and Freshfields, London, are representing Tyco International, the world's largest manufacturer of fire and safety systems, in its US$5.6 billion merger with ADT, the largest provider of electric security services in North America. Davis Polk & Wardwell, New York, Appleby, Spurling & Kempe, Bermuda, and Allen & Overy, London, are advising ADT.

Despite the growing economy, Finland’s lawyers find there is not enough work to go round. Firms are being forced to refocus and reassess their business. Clare Hepburn reports

US government bonds are at last being integrated with other major government bonds and Eurobonds into the international clearing system. By Kathleen Tyson-Quah of KTQ Consulting, London, and Seth Weinberger of Mayer Brown & Platt, Chicago

A team of associates from Skadden, Arps, Slate, Meagher & Flom's Beijing office has defected to Vinson & Elkins. The move halves Skadden's Beijing office, leaving two partners and three associates.

SBC Communications of the US and Telekom Malaysia have formed a consortium to buy a 30% stake in state-owned Telkom South Africa. The deal will cost the consortium US$1.26 billion, and will be the biggest direct foreign investment in South Africa.

• UK firm Clifford Chance has appointed 22 partners. Fifteen are in the London office. They are: in finance, David Bickerton, David Eatough, Hilary Evenett, Rachel Kelly, Geeta Khehar, Robert Lee, Gavin Teague and Russell Wells; in property, Andrew Forryan; in corporate, Mark Poulton and David Pudge; in contentious, Rob Lambert and Rae Lindsay; in tax, Michael Wistow, and in tax, pensions and employment, Bruce Hedley. The Hong Kong office has gained three partners: Paul Kruger and Robert Trefney (finance) and Philip Rapp (China). Simon Clinton and Thierry Schoen become corporate partners in Singapore and Paris respectively. Juan Jose Lavilla becomes an administrative law partner in Madrid. Mark Huddlestone has been made finance partner in Amsterdam.

Allen & Overy's Warsaw office will be joined by two partners and seven Polish associates from May 1 after UK firm Nabarro Nathanson agreed to close its office and transfer the staff and clients to Allen & Overy. English resident partner Michael Davies, who set up the Nabarro Nathanson office in 1991, joins Allen & Overy as a partner in Warsaw with Polish lawyer Tomasz Dobrowolski. Nabarro's senior partner David Bramson says the move followed a review of strategy. "We have terrific people there but we wanted them to find a safe haven because to make the Warsaw office fly we would have had to put in at least £1 million," he comments.

Tony Williams, who has been Clifford Chance's Moscow head for the last two years, will shortly relocate to London to begin the transition to managing partner. Williams beat off the challenge of London partner Peter Charlton in the second ballot of the whole partnership and has been given an extended mandate of five years compared to the three year terms served by Geoffrey Howe. "It was decided to change it to five years as it was felt that five years for an initial term was more appropriate for what is now a quite complex job," comments Williams.