Top Iberian law firms Cuatrecasas Gonçalves Pereira, Garrigues and Uría Menéndez all scored roles on Telefónica’s e7.5bn (£6.16bn) purchase of Portugal Telecom’s 50 per cent stake in Brasilcel.
Uría, led by Madrid M&A partner Cándido Paz-Ares, advised Telefónica on its purchase of a stake in Portugal Telecom’s joint venture Brasilcel, which controls 60 per cent of Brazilian phone company Vivo.
Cuatrecasas also advised Telefónica on Portuguese law and issues relating to the 500 so-called golden shares allocated to the Portuguese government when Portugal Telecom was privatised.
Cuatrecasas Lisbon-based managing partner Manuel Castelo led on the Portuguese law aspects of the deal, while Barcelona-based president Emilio Cuatrecasas advised on the golden shares.
Sérvulo & Asociados advised the Portuguese government, with partners Rui Medeiros and Lino Torgal on the regulatory side, partner Miguel Gorjão-Henriques advising on the EU and competition aspects and partners Fernando Ferreira Pinto and António Teles on the corporate side.
In Brazil Telefónica used Domestic firm Machado Meyer Sendacz Opice.
On the other side, Garrigues advised Portugal Telecom, with Lisbon partners Diogo Leonidas Rocha and Marta Graca Rodrigues heading the team.
Clifford Chance’s English law team in Spain advised agent Citibank and the bank syndicate that lent e8bn to Telefónica. Team leader Stuart Percival and counsel Carl Fitzgerald led on the deal.