LAWFUEL – Business & Law – Hutchison Telecom this week announced it has agreed to sell its stake in Hutchison Essar, India’s fourth largest mobile phone operator, to Vodafone for $11.1bn. The deal values Hutchison Essar at approximately $18.8bn, making it the largest foreign investment transaction in India and one of the largest ever Indian M&A transactions.
International law firm Freshfields Bruckhaus Deringer advised Hutchison Telecom on the transaction.
The Freshfields team was led by Hong Kong-based corporate partner Robert Ashworth, London-based finance partner Perry Noble and corporate partner Natasha Good, and included Hong Kong corporate associate Grace Huang, and London associates Sean Stabb, Stuart Goldberg and Rosanna Cortese.
Perry Noble commented, ‘This was a fascinating transaction to work on, with a very tight timetable requiring seamless round-the-clock service between London and Hong Kong. We are pleased our international network was able to help Hutchison achieve this great result.’