Baker & McKenzie's Hong Kong office has won a place on
China Mobile's acquisition of seven mobile-telephone networks.
Freshfields, which advised on the two previous acquisitions, in
1998 and last year, is not involved.
Otherwise the team is unchanged. Shearman & Sterling is
advising China Mobile, and Sullivan & Cromwell the
underwriters, Goldman Sachs. The two firms have switched sides
since the last deal. Linklaters is advising China Mobile on
Hong Kong law issues and Baker & McKenzie has taken over
Freshfields' role on the underwriter side, advising on Hong
China Mobile will acquire the networks from its parent,
China Mobile Communications. It intends to finance the cash
portion of the purchase through Rmb12.4 billion ($1.5 billion)
of syndicated bank loans, about $600 million from...