Deals roundup

Portugal Telecom looks to Iberia giants to fend off bid


Portugal Telecom looks to Iberia giants to fend off bid

Some of Iberia’s largest law firms are defending Portugal Telecom from an unsolicited E10.7bn (£7.31bn) bid from conglomerate Sonae, in what could be Portugal’s largest-ever deal. Portugal Telecom rejected the Sonae bid when it was presented last week and has called in top Spanish firms Garrigues and Cuatrecasas and Portuguese players PLMJ and Vieira de Almeida to fend it off. The Garrigues team is headed by partner Diogo Leonidas Rocha, with partner Maria João Ricou leading the team from Cuatrecasas’s local arm Goncalves Pereira Castelo Branco & Associados. PLMJ is being led by capital markets head Jorge de Brito Pereira. Vieira de Almeida is advising through technology and regulatory head Margarida Couto. Sonae is being represented by the Porto office of Osório de Castro Verde Pinho Vieira Peres Lobo Xavier & Associados, led by partner Carlos Osorio De Castro.

Freshfields wins Tussauds’ London Eye deal
Freshfields Bruckhaus Deringer represented attractions group Tussauds in buying the London Eye from British Airways (BA) and other shareholders. The transaction is the first time Freshfields has acted for the company since it was bought by Dubai International Capital (DIC) last year. However, Freshfields has worked for other companies under the DIC banner. The Freshfields team was led by restructuring and insolvency partner Richard Tett and BA’s representation was led by in-house legal head Chris Haynes. Allen & Overy assisted Merrill Lynch on financing the purchase, led by banking partner Sanjeev Dhuna.