LAWFUEL – Law News Network – Linklaters has advised Tecom Investments FZ LLC, a Dubai Free Zone company, and Dubai Investment Group (both subsidiaries of Dubai Holding LLC) on the acquisition of 35 per cent of the state-owned Tunisian telecom operator Tunisie Telecom.
The transaction is the largest in the history of Tunisia. The process was launched in the form of a public tender offer mid 2005 and was jointly led by Santander and the Banque d’Affaire de Tunisie (BAT). Thirteen companies and consortia were pre-selected to participate in the tender process (including France Telecom, Vivendi Universal, Telecom Italia, Portugal Telecom, Mobile Telephone Networks South Africa, Etisalat, Saudi Oger, Turkcell). Six participated in the first round which was won by Vivendi and Tecom/DIG. The latter made the highest offer of the second round. The deal closed on 17 July 2006.
The Linklaters team was led by TMT partner Tanguy Van Overstraeten, in Brussels. Other members of the team included Sylvie Rousseau and Bastiaan Bruyndonckx (both TMT, Brussels).
Other advisers included: Gide Loyrette Nouel (legal advisers to the Tunisian State), Essebsi Law Firm and Ferchiou Law Firm (local advisers to Tecom/DIG).