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Matsushita of Japan and Siemens of Germany launched the IPO of an approximately 75% stake in their joint venture, Epcos, on October 15. The offering is a dual listing on the New York and Frankfurt stock exchanges. It raised approximately euro 1.3 billion ($1.4 billion), making it one of the largest IPOs on the Frankfurt stock market. Epcos is one of Europe's largest manufacturers of passive electronic components.

Baker & McKenzie is advising on the most recent privatization in Eastern Europe. In mid-October, the government of Croatia sold a 35% stake in its telecoms operator, Hrvatske Telekomunikacije, to Deutsche Telekom for $850 million. The sale to Deutsche Telekom followed a successful bidding competition with a consortium comprising Telia and Telenor.

International investors beware of foreign securities laws

Switzerland's lawyers have been immune to the invasions seen in other European jurisdictions.

Two of Spain's largest banks have announced a stock swap merger creating the second largest bank in the eurozone with a market value of euro 38 billion ($41 billion).

Dragsted Schlüter Helmer Nielsen, the largest law firm in Denmark, has announced that it is merging with fellow Danish firm Aros Advokater. The combined firm will have more than 160 lawyers, including 55 partners. The new firm will be called Dragsted Schlüter Aros Law Firm

The London office of Weil, Gotshal & Manges this month finished working with Morgan Stanley Dean Witter on the structuring of the Eurocredit collateralized debt obligation. The offering, worth euro416.5 million ($439.7 million) is the first wholly European take on a US-originated financing. Lead partner Erica Handling explains the deal

UK law firms Wilde Sapte and Denton Hall announced on October 12 that the partnerships of both firms had voted to combine the two firms. The merger will create a new firm with around 1,500 staff. It will be the seventh largest in the UK, with just under 500 lawyers in the jurisdiction. The merged entity will be called Denton Wilde Sapte.

John A Tessensohn and Shusaku Yamamoto of Shusako Yamamoto Patent Law Office, Kobe, examine the patenting of computerized business methods in Japan

In early October at the International Bar Association meeting in Barcelona, Hannes Schneider of German firm Hengeler Müller Weitzel Wirtz outlined the strategy he called the integrated team concept. Schneider defines the strategy, which unites Hengeler, US firm Davis Polk & Wardwell and the UK's Slaughter and May, as a direct alternative to the alliances and cross-border mergers between law firms. This is the first time that Hengeler has taken the opportunity to explain the strategy in detail and to market it to such a wide audience. Although the existence of a special relationship has been known for some time, the details can now be revealed.