Deacons and Freshfields Bruckhaus Deringer have advised The Wharf (Holdings) Ltd on the disposal of its telecoms unit, Wharf T&T Ltd, to private equity firms MBK Partners and TPG, which were both represented by Clifford Chance. 

With a value of approximately $1.22 billion, this is the largest M&A deal in the Hong Kong telecommunications industry since HKT Ltd acquired CSL New World Mobility Ltd in 2014.

The Deacons team was led by corporate finance head Ronny Chow, while Freshfields’ team was headed by ACT partner Alistair Mordaunt and corporate partner Edward Freeman. Andrew Whan and Anthony Wang led the CC team.

Wharf T&T is Hong Kong’s largest purely enterprise-focused telecoms service provider, with a fibre optic network covering approximately 90 percent of the commercial market. Its divestment is a result of a strategic review of their communication, media and entertainment (CME) business segment. 

 

 

Related Articles

Features

FORUM: The Next Generation

by Sarah Wong |

As the Asia legal market continues to evolve on the back of shifting political and market forces, law firms are being challenged on multiple fronts, including technological capabilities and business models. A well-structured succession plan is necessary to facilitate a smooth transition and introduce new perspectives. Law firms across the region discuss how they are preparing the next generation of leaders to guide their firms into the future.

Other News

HK sexual harassment case: Claim dropped against ex-Deacons partner

by Asian Legal Business《亚洲法律杂志》 |

The Hong Kong District Court has set aside an anonymity order granted to a woman who had accused Stefano Mariani, a former partner and head of tax at Deacons, of sexual harassment.

Features

FORUM: Socially Skilled

by Sarah Wong |

Owing to the pandemic and today’s unprecedented connectedness, young workers are undergoing a home-working revolution that is reshaping workplace dynamics. However, it’s also feared that these younger lawyers might fall short in acquiring the social skills essential in cultivating client relationships. Law firm talent leaders share how to nurture a new generation of technically and socially capable lawyers in the age of digitalisation.