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  • Partial elimination of stamp duty on securities dealingWenger Vieli Belser, Zurich
  • Euronext Amsterdam announces tougher rules for IPOsHouthoff Buruma, Amsterdam
  • Bank loans deemed void for usurious interestStudio Legale Beltramo, Rome
  • The mobile phone operator Telefónica Móviles has launched a $2.8 billion initial public offering (IPO), Spain's largest ever flotation. Telefónica Móviles, a division of Spain's largest telecom company Telefónica, coordinated the listing of 300 million shares on the Spanish bourse. The New York Stock Exchange also carried the stock in the form of American depositary shares.
  • Norton Rose has acted for France Télécom's internet operation Wanadoo on the $2.4 billion acquisition of UK Internet provider Freeserve.
  • NTT DoCoMo, Japan's largest mobile phone operator, has appointed Lovells to advise on its acquisition of a 20% stake in KG Telecommunications, a Taiwanese mobile operator.
  • Shearman & Sterling is to lose a UK partner for the first time, as London-based Rupert Walker leaves for Jersey's Mourant Group. Mourant is raiding its US peer as the offshore firm looks to capitalize on Europe's structured finance boom.
  • White & Case swoops on Freshfields for Moscow energy growth
  • Private pension system to be introducedHergüner Bilgen & Özeke, Istanbul
  • SJ Berwin has raided Baker & McKenzie's German venture capital and private equity funds group, as the UK firm's German arm details plans to establish a presence in the emerging Munich market.