Former Herbert Smith Germany ally Gleiss Lutz is in talks with Italy’s Chiomenti, French firm Gide Loyrette Nouel and Iberian giant Cuatrecasas Goncalves Pereira over a new European alliance.

The four firms are discussing how to strengthen their ties, with sources close to the matter indicating that the potential alliance, which excludes any UK firm, would be an informal ‘best friend’ relationship.