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The London offices of three US firms advised on the £124m exclusively-European management buy-out of UK telecommunications company Storm -further rooting their presence in the London market.McDermott Will & Emery, led by London managing partner William Charnley, and telecoms partner Stephanie Liston, advised the management team of Storm and Storm Investments, which was set up to acquire the company.Shearman & Sterling, led by corporate partner Adrian Knight, advised Soros Private Equity, which backed the deal.And the three-partner London office of West Coast-based Paul Hastings Janofsky & Walker, led by corporate partner Keith Ott, advised the vendor, Norwegian telecoms group Telenor. Telenor is a long-standing client of Paul Hastings in Europe and the US, while McDermotts retained its client Storm through Liston, who advised the company at Baker & McKenzie before joining McDermotts last July. The deal is hugely significant for Storm, which intends to become the first international optical switched service provider offering optical networking solutions for businesses. Ott said the deal was unique because three US firms were doing a deal that had no US law jurisdiction. However, he added it was not that surprising because of the cross-border nature of telecoms deals.

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