The London office of US firm Cleary Gottlieb Steen & Hamilton acted as US and Russian counsel to Deutsche Bank and ING Barings regarding a $307m (£209m) IPO of American Depository Shares, representing common stock of Moscow-based mobile telephone company Mobile TeleSystems (MTS).
This is the first time since the Russian financial crisis of 1998 that a Russian company has been listed on the New York stock exchange. MTS was represented by Russian lawyers Andrey Gorodissky & Partners and on US aspects by Latham & Watkins. The Cleary Gottlieb team was headed by partner Daniel A Braverman in London. Associates Michael F Rinzler, also in London, and Konstantin V Olefir in Moscow assisted.
