Denton Wilde Sapte is set to be over-looked on the proposed £1bn flotation of key client Virgin Mobile, with City rival Allen & Overy (A&O) expected to land the coveted role of adviser to the company.

Dentons was primed to act as Virgin Mobile’s primary adviser on the high profile listing when it was first mooted late last year, in what would have been one of Dentons’ largest ever corporate transactions.