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20 March 2005 – LAWFUEL – The Law News Network – Herbert Smith and Sti…

20 March 2005 – LAWFUEL – The Law News Network – Herbert Smith and Stibbe, together with Canadian law firm Fasken Martineau
Dumoulin LLP, are advising Montreal-based Telesystem International Wireless
Inc. (TIW) on the recommended $3.5 billion cash sale of its interests in
MobiFon and Oskar Mobil to Vodafone International Holdings BV, a
wholly-owned subsidiary of Vodafone Group (Vodafone).

TIW currently holds a 79% interest in MobiFon and a 100% interest in Oskar
Mobil, the Eastern European mobile phone operators. Vodafone already owns
20.1% of MobiFon. Closing of the sale is expected in the third quarter of
2005 and is subject to various regulatory approvals.

TIW was introduced to Herbert Smith by Stibbe partner Derk Lemstra, who has
advised the NASDAQ and Toronto-listed telecommunications company for a
number of years. This is the first public matter on which Herbert Smith has
advised TIW.

The Herbert Smith team is being led by corporate partners Gareth Roberts and
Alex Kay. They are being assisted by Mark Bardell and Rachel Dulberg.
Stibbe’s Derk Lemstra and Lars Groenewoud are advising on Dutch law aspects
of the transaction.

Gareth Roberts commented:

“We are pleased to have assisted TIW, a longstanding Stibbe client, on the
sale of its operations and to have achieved execution of binding agreements
so quickly.”

Lazard Frères & Co are acting as financial adviser to the company with
Lehman Brothers acting for the board of directors. Robert Pare is leading
the Fasken Martineau team. Linklaters are advising Vodafone.

British MP George Galloway and his opponent the Daily Telegraph will leave no stone unturned to sort out what could be a spectacular libel case.