Herbert Smith has advised long-standing client Cable & Wireless Worldwide (‘CWW’) on its recent takeover by Vodafone, which was implemented by way of a scheme of arrangement. Vodafone paid approximately £1.04 billion to gain control of CWW, in a transaction designed to strengthen Vodafone’s enterprise business and position it well to capitalise in the growing market for unified communications.
The Herbert Smith team was led by global head of corporate James Palmer and corporate partnersChristopher Haynesand Mark Bardell (who from 2009-2011 was the Secretary at the Takeover Panel) and corporate senior associates Mike Flockhart and Suzanne Sullivan. The Herbert Smith team includedVeronica Roberts, Alexandra Long and Tom Kemp(competition), Bradley Phillips (tax), Amanda Hale, Miriam Everett and Claire Wiseman (telecoms regulatory), Paul Ellerman and Matthew Emms (incentives),Peter Frost and Christine Young (employment), Ben Brafman, Holly Tuckwood and Sanam Zulfikar-Khan (corporate).
The Herbert Smith team worked closely with CWW general counsel, Philip Davis, and head of corporate legal, Elise Bragg.
James Palmer commented:
“We are delighted to have assisted Cable & Wireless Worldwide on this transaction. It continues our strong run of significant telecoms sector transactions around the World.”
Linklaters advised Vodafone.
