CC cements France Télécom relationship with share disposal work

Clifford Chance‘s Paris office has strengthened its relationship with France Télécom with a role on its e4bn (£2.7bn) disposal of shares.

Partner Frédéric Peltier led the team advising France Télécom holding company Erap on the sale, which was announced on 6 June. The firm also advised on a share sale in 2004 and earlier this year retained its position on France Télécom’s panel, alongside Shearman & Sterling and Sullivan & Cromwell.

French independent Bredin Prat reaffirmed its position as one of the French government’s closest advisers, with partner Sébastien Prat acting on the disposal. The firm continues to be involved in the majority of France’s largest transactions, and its work for the state includes acting on the privatisation of La Poste and previous France Télécom disposals.

Bredin Prat was also hired by Wanadoo to advise on its takeover by France Télécom in February 2004, with Sullivan and Skadden Arps Slate Meagher & Flom taking roles for France Télécom and the French state respectively.

The latest share offer is part of an ongoing process of privatisation in France, which includes state energy companies Gaz de France and Electricité de France.