Goldman picks Baker & McKenzie for China Mobile acquisitions

Author: | Published: 1 Nov 2000

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 Kong law.

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...