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Decree no 219/2006 of November 2 transposes the EU Takeover Directive and part of the EU Transparency Directive into Portuguese legislation. It has modified article 20 of the Portuguese Securities Code (PSC). The article establishes the set of situations where voting rights are attributable to a given entity, for the purpose of calculating qualified shareholdings (participações qualificadas) in publicly traded companies (sociedades abertas), including listed companies. This modification, reflected mainly in the insertion of new paragraphs 20.1.h and 20.4 of the PSC, extends the range of situations where a qualified shareholding is considered to exist. But when put into practice, some of these situations are somewhat bizarre.

Lawyers in Hong Kong are more open about China when they're drunk. At firm parties, with a few fruity cocktails inside them, the Sino platitudes tend to fall away. Nervy marketing colleagues may try to calm the storm, but they push on regardless. Before long, China's supposedly rapidly developing regulation seems less speedy.

First deal approved by rating agencies

New securities law a success

Paul Browne, partner and head of Simmons & Simmons' financial markets group in Hong Kong and Charles Mayo, partner in the firms' China corporate group discuss the poll's key findings

Clifford Chance became Middle East law firm of the year last night, at IFLR's annual Middle East awards in Dubai. The firm also won equity team of the year and project finance team of the year, as well as working on three of 2007's winning deals

Bank of China, one of China's four largest commercial banks, has made an Rmb3 billion ($401 million) bond offering.

Allen & Overy has hired Stefano Sennhauser to join its office in Milan.

Clifford Chance has appointed project finance specialist Bruce Schulberg as a partner in its China group.

Industrial and Commercial Bank of China's proposed acquisition of a 20% stake in South Africa's Standard Bank involved an interconditional scheme of arrangement, the first of its kind between China and South Africa