International law firm McDermott Will & Emery represented Telefónica S.A. in connection with the multi Billion acquisition of E-Plus group from KPN N.V. Under the terms of the deal, Telefónica Deutschland Holding AG will acquire E-Plus group for a total purchase price of approximately EUR €3.7 billion and an additional share component in Telefónica Germany.
E-Plus group provides customers in Germany with multi-brand mobile telecommunications, offering prepaid and postpaid services targeted at multiple market segments. E-Plus group is the third largest mobile provider in Germany by number of subscribers and fourth largest by service revenue. The purchase price is payable in cash and shares in Telefónica Germany.
The transaction is still subject to cartel approval.
“We are very pleased to have worked successfully with Telefónica S.A.to complete this important transaction,” said McDermott Corporate partner Joseph Marx, based in Frankfurt. “Through this merger, customers throughout Germany will benefit from a broader range of convenient, secure and high-performance prepaid and postpaid mobile services.”
In addition to Mr. Marx, the McDermott team included Frankfurt-based Corporate partners Philipp von Ilberg, Andreas Kurtze, Dr. Clemens Just, and Dr. Martin Kniehase. In addition, Frankfurt-based Trial/Arbitration partner Dr. Sabine Konrad, Munich-based International Tax partner Dr. Kian Tauser, Brussels-based Antitrust/Competition partners Martina Maier and Philipp Werner, and Munich-based IP Litigation partner Dr. Ralf Weisser advised on the transaction. Supporting the team were associates Mirko von Bieberstein and Claus Faerber as well as Rechtsanwalt Maximilian von Schorlemer.
