Sullivan & Cromwell’s snub of regular client Vodafone has resulted in the US firm backing the winning horse in the race to acquire AT&T Wireless.
Cingular Wireless has won the auction of AT&T Wireless with a $41bn bid. Cingular is a joint venture between BellSouth and SBC Communications. Sullivan & Cromwell advised SBC Communications and Fried Frank Harris Shriver & Jacobson advised regular client BellSouth.
This left Vodafone to seek a new US adviser for the deal. Vodafone chose Simpson Thacher & Bartlett. Wachtell Lipton Rosen & Katz advised AT&T Wireless.