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  • Tiscali, the Italian internet operator, is merging with World Online, the European internet service provider. The deal, worth $11 billion, is the largest in the European internet market to date. It creates the second largest internet company in Europe.
  • Laurie Adams
  • Linklaters has launched a legal extranet, Clients@Linklaters, which provides clients with direct access to contact, deal and billing information via a single website. Linklaters claims it is the most advanced extranet to be offered by a law firm.
  • Allen & Overy Krakovska 9
  • Turkey moves towards creating a derivatives marketHergüner Bilgen & Özeke, Istanbul
  • In May, the Brazilian government notified the IMF of its commitment, under the Bretton Woods Agreement of 1944, to lift exchange control regulations and to refrain from imposing restrictions on the flow of capital. The commitment is yet to be implemented, but certain previous procedures are already being simplified:
  • By Ronnie Price of Portugese Chamber of Commerce, London
  • By Fernando Azofra of Uría and Menéndez
  • By Enrique Sanz and Patricia Manca of Landwell Abogados y Asesores, Madrid
  • By Carlos de Sousa e Brito and Filipe Falcao Oliveira of Carlos de Sousa e Brito & Associados, Lisbon.