International law firm Freshfields Bruckhaus Deringer has advised China Unicom (Hong Kong) Limited (“China Unicom”) on its proposed acquisition of 100% equity interest in Unicom New Horizon Telecommunications Company Limited (“Unicom New Horizon”) from China United Network Communications Group Company Limited through a wholly-owned subsidiary of China Unicom, for a total consideration of approximately RMB12.17 billion (approximately US$1.95 billion).
Unicom New Horizon owns fixed-line telecommunications network assets located in 21 provinces and cities in southern China. Completion of the acquisition is subject to the relevant PRC regulatory and shareholders approvals for the acquisition having been obtained and is expected to take place not later than 31 December 2012.
The Freshfields deal team is led by China Chairman Teresa Ko and corporate partner Grace Huang. They were supported by senior associate Taotao Ling and associates Anna Shek and Chris Fu.
