Redstone Telecom

Osborne Clarke completed this deal for longstanding client Redstone Telecom using a team of lawyers from its corporate, banking and employment groups.
Led by corporate partner Ray Berg in London, the deal had to be completed quickly because of press speculation about what was happening to the company. The share prices were falling and putting the lawyers under pressure.
The deal was similar to one completed by Bright Station earlier this year, and received such attention because the client is in the telecoms sector.
The placing and open offer of 2.7 billion new shares raised £25.3m for the company, net of expenses. Berg said it was because of his strong relationship with the client and because he worked closely with the financial advisers that the deal was completed within the deadline.