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A&O's role on merger of Virgin Media and O2 shows transformational deals can be delivered during Covid-19 coronavirus lockdown

Auteur
Parr Jeremy
Jeremy Parr

Partner

London

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Bavasso Antonio
Antonio Bavasso

Partner Co-Head Antitrust

London

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Tilley Alex
Alex Tilley

Partner

London

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11 mei 2020

Allen & Overy is advising Liberty Global plc (Liberty Global) on its GBP31 billion deal with Telefónica SA (Telefónica) to merge Virgin Media and O2. The landmark transaction, announced on 7 May following five months of negotiation, combines the UK’s second-largest broadband network with the largest mobile network to create a business serving 46 million video, broadband and mobile subscribers.

London corporate M&A partners Jeremy Parr and Alex Tilley and global co-head of Antitrust and TMT Antonio Bavasso are leading the deal, marshalling a huge team of over 50 lawyers including many commercial and IP/IT lawyers and a wide range of specialists. A&O is using a combined diligence team in London and its legal services centre in Belfast.

Jeremy Parr commented: "We relied heavily on the capabilities of our innovative legal resourcing and technology services to sign up this massively complex deal. Over 50 of our lawyers across all disciplines are able to work round the clock alongside Liberty's legal team. It's a credit to the commitment of all our team members that Liberty Global and Telefónica were able to sign this deal remotely during the Covid-19 lockdown”.

Antonio Bavasso added: "This is a transformational transaction for the UK communications industry and one of the main industry deals of the decade. We are proud to assist Liberty Global on this major achievement, building on our existing relationship with the group.”

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