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Clifford Chance

Clifford Chance
News and awards

News and awards

2 May 2012

Clifford Chance was again recognised for its regional strength in the TMT sector last night by being named Middle East Telecom Law Firm of the Year at the TMT Finance Middle East Awards 2012. This is the third consecutive year Clifford Chance has been recognised by this award. EMEA

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."