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CHSH advises Telekom Austria AG in connection with the takeover of Orange’s subsidiary Yesss! by Hutchison 3G Austria (“Drei”)

 

l: Dr. Albert Birkner, LL.M. r: Dr. Bernhard Kofler-Senoner, LL.M.

CHSH Cerha Hempel Spiegelfeld Hlawati advised A1 on the takeover of Orange’s subsidiary Yesss! Telekommunikation GmbH.

The sale of Orange Austria to Hutchison 3G Holdings Austria GmbH (Hutchison Austria), a subsidiary of Hutchison Whampoa Limited, Hong Kong, has been one of the most challenging transactions in recent years. Parallel to the main transaction, the parties also negotiated the sale of Orange Austria's MVNO subsidiary Yesss! Telekommunikation GmbH (Yesss!), together with base stations, frequencies and certain IP rights, to the Telekom Austria Group (TA).

The deal, including Yesss! and the assets sold to TA, is valued at approximately EUR 1.3 billion. The sale of Yesss! and other assets to Telekom Austria is valued at EUR 390 million. Completion of the transaction, expected in mid-2012, is subject to approval by the competent regulatory and competition authorities.

As regards the structuring and implementation of the transaction, Telekom Austria AG was and will be advised by CHSH partners Albert Birkner (Corporate, M&A) and Bernhard Kofler-Senoner (Antitrust law). The CHSH attorney team also included Claudia Schmidt, Jürgen Edtbauer, Elke Sagmeister and Nick Yanev.

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