Allen & Overy (A&O) advised Dutch telecoms group KPN on its £12.9bn joint venture with US telecoms company BellSouth to acquire German cellular operator E-Plus Mobilfunk. A&O also advised KPN on the £8.4bn loan from a banking syndicate led by ABN Amro and JP Morgan. Under the deal’s terms, KPN Mobile will hold 22.5% of the joint venture and 77.5% will be held by BellSouth. Corporate partners Alistair Asher and Steven Shuit led the team. Gleiss Lutz Hootz Hirsch, led by corporate partner Hans Joerg Scheer, supported. BellSouth was advised in-house, led by Russell Case and Dan Bradley. Baker & McKenzie advised in Germany and the Netherlands, led by corporate partner Rainer Stachels. Kilpatrick Stockton, led by corporate partner Stanley Blackburn, also advised BellSouth. Slaughter and May, led by banking partner Richard Slater, advised the banks on financing.
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