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  • Although the privatization process began in Turkey in the early 1980s, it has accelerated recently as a result of the IMF and World Bank-sponsored economic reform program. Within the framework of this program, a decree (the decree) was enacted in July to start the privatization of Türkiye Vakiflar Bankasi (Vakif Bank). This privatization is the first step in what is expected to be a radical restructuring of the public banks in Turkey.
  • The German government has been quick to respond to Vodafone’s ground-breaking hostile bid for Mannesmann. In June, it introduced proposals to regulate takeovers for the first time. Hartmut Krause of Allen & Overy, Frankfurt, explains the proposed rules
  • The general principles governing a lead manager's duties under Belgian law were confirmed by the Brussels' commercial court on February 10 2000.
  • Baker & McKenzie has advised on the latest stage in the privatization of Poland's Telekomunikacja Polska (TPSA). The deal is the second round in the sell-off of the company, under which a 35% stake was bought by a consortium of France Telecom and Kulczyk Holding. At $4.3 billion, the deal is eastern Europe's largest privatization and mergers and acquisitions transaction to date.
  • Singapore has officially opened up its market for legal services, with the government inviting foreign lawyers to practise Singapore law. Nick Ferguson looks at how foreign firms have been preparing for their grand entrance
  • Simmons & Simmons and Clifford Chance have advised Korea Asset Management Corporation (Kamco) on its first international securitization. Clifford Chance advised Deutsche Securities and Warburg Dillon Read, the joint lead managers, and Simmons advised Kamco.
  • Weil Gotshal & Manges has lost its second head of banking in eight months. James Chesterman, who has been with Weil Gotshal's London office since 1995, is leaving to become banking partner at Latham & Watkins.
  • Leading multinationals are lobbying the Chinese government in an attempt to create positive Internet rules for the development of China's e-commerce industry. The coalition of companies hopes to prevent stringent legislation from hampering e-commerce growth.
  • Michael Taylor, Norton Rose