In the last 12 months, Clifford Chance has advised on a number of high-profile groundbreaking deals in the TMT sector. Highlights include:
• Saudi Telecom Company (STC), the largest telecoms operator in Saudi Arabia, on the US$2 billion outsourcing of its directory services business to, and related joint venture with, Aegis;
• Mannai Corporation on its acquisition of a 35% stake in Axiom, the UAE-based, pan-GCC mobile handset retailer and distributor;
• *Zain KSA on its planned capital reduction and US$1.6 billion rights issue;
• *Zain KSA on the proposed US$900 million sale by Zain Group of its 25% stake in Zain KSA to a consortium Batelco and Kingdom Holding;
• Zain Kuwait and its group companies on over US$5 billion of debt financings across the Middle East;
• STC on its bid for the 3rd mobile licence in Syria;
• Etisalat, the UAE’s leading telecommunications company, on its proposed acquisition of a US$12 billion majority stake in Zain, the leading telecommunications company in Kuwait;
• PT Natrindo Telepon Seluler (AXIS), the Indonesian based subsidiary of STC, on a US$1.2 billion multi-sourced Shari'a compliant Islamic financing;
• continuing to advise American Tower Corporation in relation to their investments in Africa, the Middle East and Asia.
*Working alongside corporate and ECM lawyers at Al Jadaan & Partners Law Firm.
Dubai-based Corporate TMT partner Mike Taylor said: "We are delighted to be recognised by this award for the third time in a row. It is a real testament to the high-profile nature of both our deals and clients, and reaffirms our regional focus on this important sector."