20 March 2005 – LAWFUEL – The Law News Network – Linklaters has assisted the BT in-house team on BT’s agreement to become Reuters supplier of network services, under which Reuters is expected to spend in the region of US$3 billion over the next eight and a half years. As part of the deal, BT will also acquire Radianz Limited, the leading financial services extranet provider from Reuters for a consideration of US$175 million for the business plus any cash remaining on the balance sheet, net of working capital adjustments, at the date of completion.
Roger Barron, Linklaters corporate partner, said:
“We are delighted to have helped BT with the start of this important relationship with Reuters and with the strategically important acquisition in the global financial services market. The BT in-house team and a large number of people from around the firm’s practices worked around the clock to ensure this deal’s success.”
Anne Fletcher, BT Group General Counsel, said:
“I have really appreciated the way in which the BT in-house team and Linklaters have pulled together on this, demonstrating huge commitment and professionalism.”
The BT legal team is headed by Group General Counsel Anne Fletcher. The outsourcing aspects of the deal were led by Alyson Westwood, supported by Tara Whitehead, both of BT, and managing associate Richard Cumbley, of Linklaters. The acquisition and corporate work was led by Kimon de Ridder, of BT, supported by a Linklaters team composed of corporate partner Roger Barron, managing associate Nick Rumsby and Sally-Jane Friston. The regulatory and anti-trust input was led by Frederic Dupas, of BT supported by other members of Gordon Moir’s in-house team. Support for other specialist areas was provided from both teams.