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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

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 Lovell White Durrant is to open for business in Russia. In charge of setting up a Moscow office is partner Christopher Smith, head of Lovell's Central and Eastern European practice and of the Prague office. Smith previously set up the firm's Beijing office and will be dividing his time between Moscow and Prague. Resident head of the office will be Daniel Gogek, an associate who moves from Freshfields' Moscow office. He was previously at White & Case and Coudert Brothers. Freshfields partner Christian Salbang worked closely with him and says: "The last we knew was that he had decided to leave the law and go back to Canada to work in business, so it is rather a surprise. But he is a competent fellow with a lot of experience and I hope he finds at Lovell what he wasn't able to find at Freshfields."

UK supermarket chain Tesco has expanded into Ireland with its £630 million (US$1 billion) acquisition of Associated British Food's Irish supermarket interests. These include market leaders Quinnsworth, in Ireland, and Stewarts, in Northern Ireland. The deal, which has yet to be cleared by the European Commission, is Tesco's second attempt to enter the Irish market. It is the largest transaction to take place in Ireland.

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.

• 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.

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.

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In the largest ever leveraged buyout effected on the European continent, Doughty Hanson & Co Ltd acquired the Geberit Group. Doughty Hanson, acting as general partner of various limited partnerships, controls Geberit International SA which purchased the shares of the Group's parent company, Geberit Holding AG, from certain members of the Geberit family who had held all of the shares in Geberit Holding AG either directly or through four personal holding companies.

US firm Milbank, Tweed, Hadley & McCloy is rebuilding its project finance practice in London after the departure of four project finance partners to rival firm Shearman & Sterling last year. Partner Thomas Siebens has returned to London from a three-year residency in the firm's Singapore office. He will develop the global capital markets reach of the firm's project finance and emerging markets group.