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  • The EU Investment Services Directive (ISD) is finally to be enacted into French law. Jean-Guillaume d'Hérouville and Pierre Gissinger of Gide Loyrette Nouel, Paris, discuss the changes to the regulatory regime
  • G L Bustin and A V Krylov of Cleary, Gottlieb, Steen & Hamilton, Brussels, look at the implications of the partnership and cooperation agreement between the EU and Russia and its impact on bilateral financial law
  • Swiss Telecom PTT has acquired a 30% interest in Sterling Cellular, an Indian company which holds a licence to operate cellular telephone services in Delhi. Sterling is controlled by Essar Goup, the US telecommunications company.
  • The 700 MW gas-fired Samalayuca power project located south of Ciudad Juarez, Chihuahua is Mexico's first foreign-sponsored generating project to reach financial closure. The $647 million financing was concluded on May 24 after four years of negotiation.
  • Differences between US and English law have always been more apparent than real. The Gustafson decision brings the two even closer in respect of issuer liability. By Simon Gleeson of Richards Butler, London
  • After four years of negotiation French electronics and defence group Matra has reached agreement with UK counterpart British Aerospace to form a £1 billion (US$1.5 billion) joint venture company Matra BAe Dynamics. The new company results from a merger of the missile operations of the two groups and will be the largest missile manufacturer in Europe.
  • General Motors, the US car company, has spun off its subsidiary Electronic Data Systems (EDS), the US software and consulting company, in a US$500 million transaction. EDS now has a listing on the New York and London stock exchanges.
  • Inco, the North American nickel company, has acquired Diamond Field Resources, the Canadian metals company, in a US$4.3 billion agreed takeover, the largest in Canadian history.
  • Commercial Banking Law in the PRC